BuybackJul 15, 2026, 04:32 PM
Gladstone Land Authorizes $55M Preferred Stock Buyback Program
AI Summary
Gladstone Land Corporation announced its Board of Directors authorized a preferred stock repurchase program totaling up to $55 million. The program includes up to $20 million of 6.00% Series B and up to $35 million of 6.00% Series C Cumulative Redeemable Preferred Stock. Repurchases will occur through open market or privately negotiated transactions and are authorized until July 14, 2027. CEO David Gladstone noted the program is part of a capital allocation strategy, viewing current market conditions as an attractive buying opportunity for preferred stock.
Key Highlights
- Board authorized a preferred stock repurchase program.
- Up to $20 million for 6.00% Series B Preferred Stock.
- Up to $35 million for 6.00% Series C Preferred Stock.
- Total repurchase authorization of up to $55 million.
- Program expires on July 14, 2027.
- Repurchases to be made through open market or private transactions.
- CEO sees current market as attractive buying opportunity.
Price Impact
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