SAN
FRANCISCO, Feb. 23, 2023 /PRNewswire/ -- The Board of
Directors of Prologis, Inc. (NYSE: PLD) today approved a plan to
raise the company's annualized dividend by 10% to $3.48 per share of common stock. The board
declared a regular cash dividend for the quarter ending
March 31, 2023, on the following
securities:
- A dividend of $0.87 per share of
the company's common stock, payable on March
31, 2023, to common stockholders of record at the close of
business on March 17, 2023; and
- A dividend of $1.0675 per share
of the company's 8.54% Series Q Cumulative Redeemable Preferred
Stock, payable on March 31, 2023, to
Series Q stockholders of record at the close of business on
March 17, 2023.
"The increase in our common stock dividends highlights the
confidence we have in our business and our balance sheet," said
Timothy D. Arndt, chief financial
officer, Prologis. "We remain focused on delivering value for our
investors as we continue to drive long-term growth in the
business."
ABOUT PROLOGIS
Prologis, Inc. is the global leader in
logistics real estate with a focus on high-barrier, high-growth
markets. As of December 31, 2022, the
company owned or had investments in, on a wholly owned basis or
through co-investment ventures, properties and development projects
expected to total approximately 1.2 billion square feet (113
million square meters) in 19 countries. Prologis leases modern
logistics facilities to a diverse base of approximately 6,600
customers principally across two major categories:
business-to-business and retail/online fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on current expectations, estimates and
projections about the industry and markets in which we operate as
well as management's beliefs and assumptions. Such statements
involve uncertainties that could significantly impact our financial
results. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," and "estimates," including variations
of such words and similar expressions, are intended to identify
such forward-looking statements, which generally are not historical
in nature. All statements that address operating performance,
events or developments that we expect or anticipate will occur in
the future—including statements relating to rent and occupancy
growth, development activity, contribution and disposition
activity, general conditions in the geographic areas where we
operate, our debt, capital structure and financial position, our
ability to form new co-investment ventures and the availability of
capital in existing or new co-investment ventures—are
forward-looking statements. These statements are not guarantees of
future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and, therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. Some of the factors that may
affect outcomes and results include, but are not limited to: (i)
national, international, regional and local economic and political
climates; (ii) changes in global financial markets, interest rates
and foreign currency exchange rates; (iii) increased or
unanticipated competition for our properties; (iv) risks associated
with acquisitions, dispositions and development of properties; (v)
maintenance of real estate investment trust status, tax structuring
and changes in income tax laws and rates; (vi) availability of
financing and capital, the levels of debt that we maintain and our
credit ratings; (vii) risks related to our investments in our
co-investment ventures, including our ability to establish new
co-investment ventures; (viii) risks of doing business
internationally, including currency risks; (ix) environmental
uncertainties, including risks of natural disasters; (x) risks
related to the current coronavirus pandemic; and (xi) those
additional factors discussed in reports filed with the Securities
and Exchange Commission by us under the heading "Risk Factors." We
undertake no duty to update any forward-looking statements
appearing in this document except as may be required by law.
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SOURCE Prologis, Inc.