SAN
FRANCISCO, Feb. 22, 2024 /PRNewswire/ -- The Board of
Directors of Prologis, Inc. (NYSE: PLD) today approved a plan to
raise the company's annualized dividend by 10% to $3.84 per share of common stock. The board
declared a regular cash dividend for the quarter ending
March 31, 2024, on the following
securities:
- A dividend of $0.96 per share of
the company's common stock, payable on March
29, 2024, to common stockholders of record at the close of
business on March 18, 2024; and
- A dividend of $1.0675 per share
of the company's 8.54% Series Q Cumulative Redeemable Preferred
Stock, payable on April 1, 2024, to
Series Q stockholders of record at the close of business on
March 18, 2024.
ABOUT PROLOGIS
Prologis, Inc. is the global
leader in logistics real estate with a focus on high-barrier,
high-growth markets. At December 31,
2023, 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 (115 million square meters) in 19 countries. Prologis
leases modern logistics facilities to a diverse base of
approximately 6,700 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,
acquisition and 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 earn revenues from co-investment ventures, 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) international, national, regional and
local economic and political climates and conditions; (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, including the
integration of the operations of significant real estate
portfolios; (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 global pandemics; 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.