Market Overview

Iron Mountain Declares Special Dividend of $4.07/Share

Iron
Mountain (NYSE: IRM), today announced that its Board of
Directors has declared a special dividend to shareholders in connection
with the Company's previously announced plan to convert into a Real
Estate Investment Trust (“REIT”). The special dividend of $700 million,
or approximately $4.07 per share based on the number of shares currently
outstanding (the “Special Dividend”), represents a significant part of
the distribution that would eventually be required should the Company
successfully convert to a REIT.

“Today's announcement marks an important milestone in our plan to
convert to a REIT,” said Richard Reese, Iron Mountain's Chairman and
Chief Executive Officer. “Iron Mountain is a great business with high

See full press release

Posted-In: News Guidance Management Global

 

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