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Gladstone Land becomes a REIT

Sep. 10, 2014 4:25 PM ETGladstone Land Corporation (LAND) StockBy: Stephen Alpher, SA News Editor
  • "Becoming a REIT was a long and expensive process for us, as we were required to distribute $9.6 million of accumulated earnings and profits from prior years," says CEO David Gladstone. "We have now completed this process, and we look forward to being able to continue paying distributions to stockholders without the burden of paying corporate taxes."
  • The REIT election is retroactive, meaning Gladstone (NASDAQ:LAND) is a REIT effective January 1, 2013.
  • Source: Press Release

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