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Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividend of 93 Cents per Common Share Up 7 Cents, or 8 Percent, over 3Q17

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Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividend of 93 Cents per Common Share Up 7 Cents, or 8 Percent, over 3Q17

PR Newswire

PASADENA, Calif., Sept. 4, 2018 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE:ARE), an urban office real estate investment trust uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, announced today that its Board of Directors declared a quarterly cash dividend of 93 cents per common share for the third quarter of 2018. The dividend is payable on October 15, 2018, to shareholders of record on September 28, 2018. The common stock dividend for the third quarter of 2018 of 93 cents per common share represents an increase of 7 cents, or 8 percent, over the third quarter of 2017.

The dividend allows the company to share its continued high-quality, strong and increasing cash flows from operations with common shareholders while it retains significant cash flows from operating activities for reinvestment into its highly leased pipeline of development and redevelopment of new Class A properties. The company's funds from operations payout ratio (quarterly common stock dividend divided by quarterly funds from operations) remains favorably low at 57 percent for the three months ended June 30, 2018. Additionally, growth in net cash provided by operating activities after dividends continues to generate opportunities to increase the company's quarterly cash dividend per common share while enabling it to maintain a low funds from operations payout ratio.

The company also announced today that its Board of Directors declared a quarterly cash dividend of 43.75 cents per share for the third quarter of 2018 for its 7 percent Series D Cumulative Convertible Preferred Stock. The dividend is payable on October 15, 2018, to preferred shareholders of record on September 28, 2018.

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500® company, is an urban office real estate investment trust uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $18.8 billion and an asset base in North America of 32.0 million square feet as of June 30, 2018. The asset base in North America includes 21.5 million rentable square feet of operating properties and 3.5 million rentable square feet of development and redevelopment of new Class A properties currently undergoing construction and pre-construction activities with target delivery dates ranging from 2018 through 2020. Additionally, the asset base in North America includes 7.0 million square feet of intermediate-term and future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle Park. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science and technology campuses that provide its innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science and technology companies through its venture capital arm. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For additional information on Alexandria, please visit www.are.com.

This press release contains forward-looking statements within the meaning of the federal securities laws. Actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the company's Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

Contact:              

Sara M. Kabakoff


Assistant Vice President – Corporate Communications


Alexandria Real Estate Equities, Inc.


(626) 788-5578

 

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SOURCE Alexandria Real Estate Equities, Inc.

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