FPI Q1 AFFO ex-litigation $2.96M (up 229% YoY), dividend up 20% to $0.06/qtr, lawsuit dismissed

Farmland Partners Inc.

2022-Q1 EPS reported $0.00 revenue$13,890,000

Net income $1.1M (incl. $0.7M gain on sale) vs $2.5M in Q1 2021; adjusted net income $2.0M vs $5.0M.
AFFO ex-litigation $2.955M, up 228.8% from $0.899M; AFFO per share $0.04 vs $(0.05).
Quarterly dividend increased 20% to $0.06 per share starting with July 2022 payment.
Debt reduced by $48.4M in Q1, additional $16.9M post-quarter; $30M undrawn LOC.
Class action lawsuit dismissed on April 6, 2022; short-seller admitted falsity of prior accusations.

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