Alexandria Real Estate Equities, Inc. Declares Cash Dividend of $1.24 per Common Share for 3Q23, for an Aggregate of $4.90 per Common Share for the 12 Months Ending September 30, 2023, an Increase of 24 Cents, or 5 Percent, Over the 12 Months Ended September 30, 2022
- ARE announces a 5% increase in quarterly cash dividend to $1.24 per common share for Q3 2023.
- The company expects to generate $1.7 billion of net cash provided by operating activities after dividends for the five-year period ending December 31, 2023.
- None.
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/A+ development and redevelopment projects. For the five-year period ending December 31, 2023, the company expects to generate for reinvestment an aggregate
1 Net cash provided by operating activities after dividends (i) excludes timing differences such as changes in operating assets and liabilities, and (ii) includes deductions for distributions to the company's consolidated real estate joint venture partners.
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 our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science, agtech and advanced technology campuses in AAA innovation cluster locations, including
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, Senior Vice President – Chief Content Officer, (626) 788-5578, skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.
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