September 15, 2009 (FinancialWire) — Agree Realty Corp.’s (NYSE: ADC) board has declared a third quarter 2009 dividend for the company’s common stock of $0.51 per share, up from $0.50 per share.

The dividend is payable October 15 to shareholders of record at the close of business on September 30.

Farmington Hills, Michigan-based Agree Realty is engaged in the ownership, management and development of properties, which are primarily single tenant net leased properties and neighborhood community shopping centers, leased to retail tenants.

The company owns and operates a portfolio of 72 properties containing approximately 3.5 million square feet of gross leasable area, located in 16 states.

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