PASADENA, Calif., March 6,
2023 /PRNewswire/ -- Alexandria Real Estate Equities,
Inc. (NYSE: ARE) today announced that its Board of Directors
declared a quarterly cash dividend of $1.21 per common share for the first quarter of
2023. The dividend is payable on April 14,
2023, to shareholders of record on March 31, 2023. The common stock dividend for the
12 months ending March 31, 2023, of
$4.78 per common share represents an
increase of 24 cents, or 5 percent,
over the 12 months ended March 31,
2022.
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 retaining a
significant portion for reinvestment into its highly leased
pipeline of new Class A development and redevelopment
projects. For the 5-year period ending December 31, 2023, the company expects an
aggregate $1.7 billion of net cash
provided by operating activities after dividends will have been
generated for reinvestment. Additionally, its funds from operations
(FFO) payout ratio (quarterly common stock dividends divided by
quarterly funds from operations) remains favorably low at 58
percent for the three months ended December 31, 2022. Growth
in the company's net cash provided by operating activities
continues to generate opportunities to increase the company's
quarterly cash dividend per common share while maintaining a low
FFO payout ratio.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® company, is a best-in-class, mission-driven life
science REIT making a positive and lasting impact on the world. As
the pioneer of the life science real estate niche since its
founding in 1994, Alexandria is
the preeminent and longest-tenured owner, operator and developer of
collaborative life science, agtech and technology campuses in AAA
innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San
Diego, Seattle,
Maryland and Research Triangle.
For more information, please visit www.are.com.
This press release includes "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 – Strategic Communications, (626)
788-5578, skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.