Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividend
PASADENA, Calif., Sept. 14, 2011 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced today that its Board of Directors declared a quarterly cash dividend of 47 cents per common share for the third quarter of 2011. This reflects a dividend increase of approximately 4 percent. The dividend is payable on October 17, 2011 to shareholders of record on September 30, 2011.
"We are pleased to announce a 4% increase in our quarterly cash dividend declared to common shareholders for the third quarter of 2011. The dividend increase will allow the Company to share its increase in cash flows from operations with its common shareholders while also continuing to significantly increase retention of cash flows from operations for reinvestment," said Joel S. Marcus, Chief Executive Officer of Alexandria.
The Company announced that its Board of Directors declared a quarterly cash dividend of 52.34375 cents per share for the third quarter of 2011 for its 8.375% Series C Cumulative Redeemable Preferred Stock. The dividend is payable on October 17, 2011 to preferred shareholders of record on September 30, 2011.
The Company also announced that its Board of Directors declared a quarterly cash dividend of 43.75 cents per share for the third quarter of 2011 for its 7.00% Series D Cumulative Convertible Preferred Stock. The dividend is payable on October 17, 2011 to preferred shareholders of record on September 30, 2011.
This press release contains 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.
SOURCE Alexandria Real Estate Equities, Inc.
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