PASADENA, Calif., March 1, 2021 /PRNewswire/ -- Alexandria
Real Estate Equities, Inc. (NYSE: ARE) today announced that its
Board of Directors declared a quarterly cash dividend of
$1.09 per common share for the first
quarter of 2021. The dividend is payable on April 15, 2021, to
shareholders of record on March 31, 2021. The common stock
dividend for the 12 months ending March 31,
2021, of $4.30 per common
share represents an increase of 24
cents, or 6 percent, over the 12 months ended
March 31, 2020.
The dividend allows the company to share its continued
high-quality, strong and increasing net cash provided by operating
activities with its common shareholders while it retains
significant cash provided by 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 dividends divided by quarterly
funds from operations) remains favorably low at 60 percent for the
three months ended December 31, 2020. 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.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® urban office real estate investment trust, is the
first, longest-tenured and pioneering owner, operator and developer
uniquely focused on collaborative life science, technology and
agtech campuses in AAA innovation cluster locations. 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. For more
information, 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
Kabakoff, Vice President – Communications, (626) 788-5578,
skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.