MCLEAN, Va., April 5 /PRNewswire-FirstCall/ -- Gladstone Commercial Corp. (Nasdaq: GOOD) (the 'Company') announced today that the Board of Directors declared cash dividends of $0.08 per common share for each of the months of April, May and June of 2005. Monthly dividends will be payable on April 29, 2005 , May 27, 2005 , and June 30, 2005 , to shareholders of record for those dates on April 15, 2005 , May 13, 2005 and June 16, 2005 , respectively. This is a 100% increase in the quarterly dividend of $0.12 per common share paid last year for the June, 2004 quarter.
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 provides the estimated 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 and a return of capital. The actual tax characteristics will be reported to each shareholder on Form 1099 for the year ending December 2005
Summary Table for the second quarter of 2005:
Declared X-Dividend Record Date Payment Date Amount
April 5 April 13 April 15 April 29 $0.08
April 5 May 11 May 13 May 27 $0.08
April 5 June 14 June 16 June 30 $0.08
Total for the Quarter Ending June 30, 2005: $0.24
Gladstone Commercial Corporation is a publicly traded real estate investment trust with capital resources that exceed $100 million . Gladstone Commercial Corporation has a two-fold business strategy; first, to purchase industrial and commercial properties and enter into triple net leases with established small and medium sized companies and second, to provide long term mortgage loans to businesses of the same caliber. To learn more about the real estate investment opportunities we provide, please feel free to call one of our Managing Directors at (703) 287-5800 or visit the Company website at http://www.GladstoneCommercial.com.
For further information contact our Chief Financial Officer,
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,' '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.
