Key Highlights

  • Global Net Lease’s $0.190 quarterly common Dividend trades ex-dividend October 9, 2026, with payment on October 16.
  • Second-quarter AFFO (non-GAAP) was $45.7 million, or $0.22 per share, compared with $53.1 million, or $0.24.
  • The Modiv Industrial Acquisition closed on August 12, 2026, and full-year AFFO guidance was raised to $0.82 to $0.85.
  • Net Debt to adjusted EBITDA (non-GAAP) improved to 6.6 times from 7.2 times in the first quarter.

Global Net Lease, Inc. (NYSE:GNL) declared a quarterly common dividend of $0.190 per share, a Yield of 9.49%, payable October 16, with shares trading ex-dividend on October 9, 2026. The $0.190 amount equals 86.4% of second-quarter AFFO of $0.22 per share (non-GAAP). The company reported a second-quarter net loss to common stockholders of $(0.04) per share.

Dividend Program and Shareholder Returns

The company announced the $0.190 common dividend on October 1, 2026, payable October 16. The shares trade ex-dividend on October 9. The release lists the common stock together with its Series A, Series B, Series D and Series E preferred stock.

The $0.190 quarterly amount equals $0.76 on an annualized basis, a computed figure. That equals 89.4% to 92.7% of the $0.82 to $0.85 AFFO guidance range, computed from the high and low ends. Second-quarter AFFO of $45,702 thousand fell 13.9% from $53,108 thousand, also computed. Each dividend remains subject to board approval.

About the Company

Global Net Lease, Inc. is a net Lease real estate company. At June 30, 2026, it held 798 net lease properties of about 40 million rentable square feet in ten countries and territories, 97% leased, with a remaining weighted-average lease term of 5.7 years. Office occupancy rose to 99%. Total Assets were $4,066,088 thousand.

Second-Quarter Results and Net Debt

Revenue from tenants was $112,475 thousand, compared with $124,905 thousand. The net loss attributable to common stockholders was $(7,450) thousand, or $(0.04) per diluted share, compared with $(35,079) thousand, or $(0.16). Cash NOI was $100,542 thousand, compared with $124,366 thousand, and adjusted EBITDA (non-GAAP) was $88,815 thousand, compared with $113,427 thousand.

AFFO (non-GAAP) was $45,702 thousand, or $0.22 per diluted share, compared with $53,108 thousand, or $0.24. Net debt was $2.3 billion, which is $2.5 billion of principal debt less $153.6 million of cash. Mortgage notes were $986,880 thousand, the revolving Credit Facility $472,946 thousand and senior notes $940,019 thousand. Liquidity was $919.0 million, including $765.4 million of revolver availability on $1.3 billion of revolver capacity.

Modiv Industrial Acquisition and Guidance

Modiv Industrial stockholders approved the transaction on August 10, 2026, and the acquisition closed on August 12. The release headline describes a $535 million primarily industrial portfolio. The company’s release projects 4% accretion to AFFO per share and an industrial share of 50% of straight-line rent, and states that the portfolio carries a 15.0-year weighted-average lease term.

Full-year 2026 AFFO guidance was raised to $0.82 to $0.85 from $0.80 to $0.84. Closed and pipeline dispositions total $263 million, 78% of them office.

Earnings and Leverage Relationships

Revenue from tenants fell 10.0% from the prior-year quarter, cash NOI fell 19.2% and adjusted EBITDA fell 21.7%, all computed from the reported figures. AFFO per share fell 8.3% from $0.24 to $0.22, also computed.

Net debt to adjusted EBITDA improved 0.6 times from 7.2 times in the first quarter to 6.6 times. The net loss to common stockholders narrowed by $27.6 million, computed from $(7,450) thousand and $(35,079) thousand.

Outlook

Global Net Lease’s $0.190 quarterly common dividend is payable October 16, with shares trading ex-dividend on October 9, 2026. The $0.82 to $0.85 AFFO guidance, the integration of the Modiv portfolio, the $263 million of dispositions weighted toward office, and the 6.6 times net debt to adjusted EBITDA are the relevant considerations.