Farmland Partners Declares $1.15 per Share Special Dividend After Strong Year
2024年12月13日 - 9:10PM
ビジネスワイヤ(英語)
Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”)
today announced that its Board of Directors has declared a one-time
dividend of $1.15 per share of common stock and Class A Common OP
Unit, payable in cash on January 8, 2025 to shareholders of record
on December 23, 2024.
The announcement comes at the end of a year that saw the Company
sell farmland and related assets for consideration totaling
approximately $308 million, generating a total gain for FPI of
approximately $51 million, or approximately 20 percent over the
aggregate net book value.
“This year has been good for FPI,” said Luca Fabbri, FPI’s
President and CEO. “The Company achieved sizeable profits on
dispositions, trimmed operational expenses, reduced debt exposure,
and increased rental rates on the farmland still within its
portfolio – which is some of the best farmland in the world. This
special dividend gives us an opportunity to share these successes
in a meaningful way with our shareholders, further demonstrating
the strength of farmland as an investment class and its
historically consistent appreciation.”
The special dividend is required for FPI to remain in compliance
with U.S. federal income tax rules for real estate investment
trusts (“REITs”). The amount of the special dividend has been
calculated based on estimates of operating performance for the year
ending December 31, 2024, sales expected to be completed by year
end, and book-to-tax adjustments.
The special dividend is in addition to the quarterly dividend of
$0.06 per share of common stock and Class A Common OP Unit that FPI
declared on October 29, 2024. For more details on the quarterly
dividend, please see “Note 12—Subsequent Events” of the Company’s
Quarterly Report on Form 10-Q for the quarter ended September 30,
2024, as filed with the U.S. Securities and Exchange Commission on
October 31, 2024.
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate
company that owns and seeks to acquire high-quality North American
farmland and makes loans to farmers secured by farm real estate. As
of the date of this release, the Company owned and/or managed
approximately 136,000 acres of farmland in 15 states, including
Arkansas, California, Colorado, Illinois, Indiana, Iowa, Kansas,
Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Ohio,
South Carolina, and Texas. In addition, the Company owns land and
buildings for four agriculture equipment dealerships in Ohio leased
to Ag Pro under the John Deere brand. The Company elected to be
taxed as a real estate investment trust, or REIT, for U.S. federal
income tax purposes, commencing with the taxable year ended
December 31, 2014. Additional information: www.farmlandpartners.com
or (720) 452-3100.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the federal securities laws, including, without
limitation, statements with respect to our outlook and the outlook
for the farm economy generally, proposed and pending acquisitions
and dispositions, financing activities, crop yields and prices and
anticipated rental rates. Forward-looking statements generally can
be identified by the use of forward-looking terminology such as
“may,” “should,” “could,” “would,” “predicts,” “potential,”
“continue,” “expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates” or similar expressions or their negatives,
as well as statements in future tense. Although the Company
believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, beliefs and
expectations, such forward-looking statements are not predictions
of future events or guarantees of future performance, and our
actual results could differ materially from those set forth in the
forward-looking statements. Some factors that might cause such a
difference include the following: market factors and other
considerations that could result in the Company deciding not to
declare and pay a special dividend or to declare and pay a special
dividend that is less than stockholders anticipate; the ongoing war
in Ukraine and the ongoing conflict in the Middle East and their
impacts on the world agriculture market, world food supply, the
farm economy generally, and our tenants’ businesses; changes in
trade policies in the United States and other countries that import
agricultural products from the United States; high inflation and
elevated interest rates; the onset of an economic recession in the
United States and other countries that impact the farm economy;
extreme weather events, such as droughts, tornadoes, hurricanes or
floods; the impact of future public health crises on our business
and on the economy and capital markets generally; general
volatility of the capital markets and the market price of the
Company’s common stock; changes in the Company’s business strategy,
availability, terms and deployment of capital; the Company’s
ability to refinance existing indebtedness at or prior to maturity
on favorable terms, or at all; availability of qualified personnel;
changes in the Company’s industry, interest rates or the general
economy; adverse developments related to crop yields or crop
prices; the degree and nature of the Company’s competition; the
outcomes of ongoing litigation; the timing, price or amount of
repurchases, if any, under the Company's share repurchase program;
the ability to consummate acquisitions or dispositions under
contract; and the other factors described in the section entitled
“Risk Factors” in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2023, and the Company’s other filings with
the Securities and Exchange Commission. Any forward-looking
information presented herein is made only as of the date of this
press release, and the Company does not undertake any obligation to
update or revise any forward-looking information to reflect changes
in assumptions, the occurrence of unanticipated events, or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20241213855318/en/
Phillip Hayes phayes@farmlandpartners.com
Farmland Partners (NYSE:FPI)
過去 株価チャート
から 11 2024 まで 12 2024
Farmland Partners (NYSE:FPI)
過去 株価チャート
から 12 2023 まで 12 2024