FARMINGTON HILLS, Mich., March  6, 2012 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) today announced that its Board of Directors has declared its first quarter 2012 dividend for the Company's common stock.

• First quarter 2012 cash dividend of $0.40 per share.
• The declared first quarter 2012 dividend when annualized equals $1.60 per share.
• The first quarter 2012 common share dividend is payable April 10, 2012 to shareholders of record at the close of business on March 30, 2012.

Agree Realty is primarily engaged in the ownership, management, acquisition and development of single tenant properties leased to industry leading retail tenants. The Company currently owns and operates a portfolio of 90 properties, located in 22 states and containing approximately 3.6 million square feet of gross leasable space.  The common stock of Agree Realty Corporation is listed on the New York Stock Exchange under the symbol "ADC".

For additional information, visit the Company's home page on the Internet at http://www.agreerealty.com .

SOURCE Agree Realty Corporation