MCLEAN, Va., Oct. 11 /PRNewswire-FirstCall/ -- Gladstone Commercial Corp. (Nasdaq: GOOD) (the 'Company') announced today that the Board of Directors declared cash dividends of $0.10 per common share for each of the months of October, November and December of 2005. Monthly dividends will be payable on October 31, 2005 , November 30, 2005 and December 30, 2005 , to shareholders of record for those dates on October 21, 2005 , November 21, 2005 and December 21, 2005 , respectively. This is a 150% increase in the quarterly dividend of $0.12 per common share paid last year for the quarter ended December 31, 2004 .
Gladstone Commercial Corporation offers a Dividend Reinvestment Plan (DRIP). For more information regarding this Plan, please visit our website at http://www.GladstoneCommercial.com.
The Company estimates the tax characteristics of its dividend on a quarterly basis and those estimates are subject to recharacterization. The current dividend is estimated to be a distribution of ordinary income. The actual tax characteristics will be reported to each shareholder on Form 1099 for the year ending December 2005 .
Summary Table for the fourth quarter of 2005:
Declared X-Dividend Record Date Payment Date Amount
October 11 October 19 October 21 October 31 $0.10
October 11 November 17 November 21 November 30 $0.10
October 11 December 19 December 21 December 30 $0.10
Total for the Quarter Ending December 31, 2005: $0.30
Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties through sale/leaseback transactions and selectively making long-term mortgage loans. Additional information can be found at http://www.GladstoneCommercial.com.
For further information contact our Investor Relations Manager,
This press release may include statements that may constitute 'forward- looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the future performance of the Company. Words such as 'believes,' 'expects,' 'estimates,' 'projects' and 'future' or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward- looking statements include, among others, those factors listed under the caption 'Risk factors' of the Company's Form 10-K for the Fiscal Year Ended December 31, 2004 , as filed with the Securities and Exchange Commission on March 8, 2005 . The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Gladstone Commercial Corp.
