Alexandria Real Estate Equities, Inc. Declares Cash Dividend of $1.21 per Common Share for 1Q23, for an Aggregate of $4.78 per Common Share for the 12 Months Ending March 31, 2023, Up 24 Cents, or 5 Percent, Over the 12 Months Ended March 31, 2022

Rhea-AI Summary

Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced a quarterly cash dividend of $1.21 per common share for Q1 2023, payable on April 14, 2023. Shareholders of record by March 31, 2023 will receive this dividend. The total annual dividend for the year ending March 31, 2023 is $4.78, reflecting a 5% increase compared to the previous year. The company projects an aggregate of $1.7 billion net cash from operations for reinvestment over the next five years while maintaining a low funds from operations (FFO) payout ratio of 58%.

Positive

• Quarterly dividend of $1.21 per share enhances shareholder income.
• Annual dividend of $4.78 represents a 5% increase year-over-year.
• Projected net cash of $1.7 billion for reinvestment indicates financial strength.
• Low FFO payout ratio at 58% allows flexibility for future growth.

Negative

• None.

PASADENA, Calif., March 6, 2023 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) today announced that its Board of Directors declared a quarterly cash dividend of $1.21 per common share for the first quarter of 2023. The dividend is payable on April 14, 2023, to shareholders of record on March 31, 2023. The common stock dividend for the 12 months ending March 31, 2023, of $4.78 per common share represents an increase of 24 cents, or 5 percent, over the 12 months ended March 31, 2022.

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 5-year period ending December 31, 2023, the company expects an aggregate $1.7 billion of net cash provided by 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 58 percent for the three months ended December 31, 2022. Growth in the company's net cash 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^® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since its founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science, agtech and technology campuses in AAA innovation cluster 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 includes "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 – Strategic Communications, (626) 788-5578, skabakoff@are.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/alexandria-real-estate-equities-inc-declares-cash-dividend-of-1-21-per-common-share-for-1q23--for-an-aggregate-of-4-78-per-common-share-for-the-12-months-ending-march-31--2023--up-24-cents-or-5-percent-over-the-12-months-end-301762256.html

SOURCE Alexandria Real Estate Equities, Inc.

FAQ

When is the dividend payment date for ARE?

The dividend payment date for ARE is April 14, 2023.

What is the amount of the dividend declared by Alexandria Real Estate Equities for Q1 2023?

The declared dividend for Q1 2023 is $1.21 per common share.

How much is the total annual dividend for ARE as of March 31, 2023?

The total annual dividend for ARE is $4.78 per common share.

What was the percentage increase in the annual dividend for ARE compared to the previous year?

The annual dividend increased by 5% compared to the previous year.