Gladstone Land Corporation has announced a new preferred stock repurchase authorization as part of its capital allocation strategy. The board of directors has approved the repurchase of up to $20 million of the Company's 6.00% Series B Cumulative Redeemable Preferred Stock and up to $35 million of its 6.00% Series C Cumulative Redeemable Preferred Stock. The repurchases will occur through open market transactions or privately negotiated agreements, adhering to securities laws. The initiative aims to capitalize on current market conditions, providing an attractive opportunity to repurchase shares at favorable prices. This authorization is valid until July 10, 2026, but the company may suspend or discontinue the program at any time.
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