Farmland Partners Inc.Declares Special Dividend Following Asset Appreciation and Strategic Transactions
DENVER - Farmland Partners Inc.(NYSE: FPI) announced today that its Board of Directors has approved a one-time dividend of $0.21 per share of common stock and Class A Common OP Unit.The dividend is payable on January 12, 2024, to shareholders of record on December 29, 2023.
This decision comes as the Company experienced robust appreciation in its asset values, particularly in the farmland market.Farmland Partners prioritized strategic transactions throughout the year, focusing on the fit of the assets and their long-term water management potential.The proceeds from these transactions were utilized to repurchase stock, further strengthening the Company’s position.
Over the past five days, Farmland Partners Inc shares registered a decline of -0.32%. However, despite this short-term fluctuation, the stock has shown an overall upward trend, with a year-to-date performance of 0.56%. Furthermore, the current share price is just 8.3% below its 52-week high.
The declaration of this special dividend showcases the Company’s commitment to generating value for its shareholders.By leveraging the strong farmland market, Farmland Partners Inc.has not only increased its asset appreciation but also aimed to align its portfolio with strategic objectives, particularly regarding water management in the long run.
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