PASADENA, Calif., Dec. 4, 2023
/PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE)
today announced that its Board of Directors declared a quarterly
cash dividend of $1.27 per common
share for the fourth quarter of 2023. The dividend is payable on
January 12, 2024 to shareholders of
record on December 29, 2023. The
common stock dividend for the year ending December 31, 2023 of $4.96 per common share represents an increase of
24 cents, or 5 percent, over the year
ended December 31, 2022.
![(PRNewsfoto/Alexandria Real Estate Equities, Inc.) (PRNewsfoto/Alexandria Real Estate Equities, Inc.)](https://mma.prnewswire.com/media/1930628/Alexandria_Real_Estate_Equities_Logo_v1.jpg)
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/A+ development and redevelopment
projects. For the five-year period ending December 31, 2023, the company expects to
generate for reinvestment an aggregate $1.8
billion of net cash provided by operating activities after
dividends.1 Additionally, its dividend payout ratio
(quarterly common stock dividends divided by quarterly funds from
operations) remains favorably low at 55 percent for the three
months ended September 30, 2023. 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.
1Net cash provided by operating activities after
dividends (i) excludes timing differences such as changes in
operating assets and liabilities and (ii) includes
deductions for distributions to the company's consolidated real
estate joint venture partners.
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 our
founding in 1994, Alexandria is
the preeminent and longest-tenured owner, operator and developer of
collaborative life science, agtech and advanced technology mega
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, Senior Vice President – Chief Content Officer,
(626) 788-5578, skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.