Alexandria Real Estate Equities, Inc. Declares Cash Dividend of $1.18 per Common Share for 3Q22, for an Aggregate of $4.66 per Common Share for the 12 Months Ending September 30, 2022, Up 24 Cents, or 5 Percent, Over the 12 Months Ended September 30, 2021

Rhea-AI Summary

On September 6, 2022, Alexandria Real Estate Equities (NYSE: ARE) announced a quarterly cash dividend of $1.18 per common share for Q3 2022, payable on October 14, 2022. This marks a total dividend of $4.66 per common share for the 12 months ending September 30, 2022, a 5% increase from the prior year. The company reported a favorable FFO payout ratio of 56%, reflecting strong operating cash flows of $2.0 billion projected for reinvestment over the next decade.

Positive

• Quarterly cash dividend of $1.18 per common share declared.
• 5% increase in annual dividend to $4.66 compared to the previous year.
• FFO payout ratio is a favorable 56%, indicating solid cash flow management.
• Projected $2.0 billion in cash flows from operations for reinvestment over 10 years.

Negative

• None.

PASADENA, Calif., Sept. 6, 2022 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) today announced that its Board of Directors declared a quarterly cash dividend of $1.18 per common share for the third quarter of 2022. The dividend is payable on October 14, 2022, to shareholders of record on September 30, 2022. The common stock dividend for the 12 months ending September 30, 2022, of $4.66 per common share represents an increase of 24 cents, or 5 percent, over the 12 months ended September 30, 2021.

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 development and redevelopment projects. For the 10-year period ending December 31, 2022, the company expects an aggregate $2.0 billion of cash flows from operating activities after dividends will have been generated for reinvestment. Additionally, its funds from operations (FFO) payout ratio (quarterly common stock dividends divided by quarterly funds from operations) remains favorably low at 56 percent for the three months ended June 30, 2022. Growth in the company's net cash flows 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.

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500^® urban office real estate investment trust, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, agtech and technology campuses in AAA innovation cluster locations. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key 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 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.

CONTACT: Sara Kabakoff, Vice President – Communications, (626) 788-5578, skabakoff@are.com

 

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SOURCE Alexandria Real Estate Equities, Inc.

FAQ

What is the dividend amount declared by ARE for Q3 2022?

Alexandria Real Estate Equities declared a dividend of $1.18 per common share for Q3 2022.

When is the dividend for Q3 2022 payable?

The dividend is payable on October 14, 2022.

What was the total dividend amount for the 12 months ending September 30, 2022?

The total dividend amount for the 12 months ending September 30, 2022, is $4.66 per common share.

How much did the dividend increase compared to the previous year?

The dividend increased by 24 cents, or 5%, compared to the previous year.

What is the FFO payout ratio for Alexandria Real Estate Equities?

The FFO payout ratio is 56% for the three months ended June 30, 2022.