Alexandria Real Estate Hikes Dividend 8%

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Real estate investment trust Alexandria Real Estate Equities (NYSE: ARE  ) announced this morning its second-quarter dividend of $0.65 per share, an 8% increase of the $0.60 per share payout it made in the first quarter.

The board also announced it was paying dividends on two series of preferred shares:

  • $0.4375 per share for its 7.00% Series D cumulative convertible preferred stock
  • $0.3125 per share for its 6.45% Series E cumulative redeemable preferred stock

The dividends on both the common and preferred shares would be payable on July 15 to holders of record at the close of business on June 28.

Alexandria Real Estate Equities CEO Joel S. Marcus said:

Compared to a year ago, we have increased our quarterly cash dividend declared per common share by $0.14, or approximately 27%. Additionally, our funds from operations payout ratio -- the quarterly common stock dividend divided by quarterly funds from operations -- of 55% as of March 31, 2013, is one of the lowest payout ratios in the REIT industry.

The regular dividend payment equates to a $2.60-per-share annual dividend, yielding 4% based on the closing price of Alexandria's stock on June 12.

ARE Dividend Chart

ARE Dividend data by YCharts

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Rich Duprey

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.


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Related Tickers

4/29/2016 4:03 PM
ARE $92.95 Down -0.89 -0.95%
Alexandria Real Es… CAPS Rating: No stars