Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms First Quarter 2021 Earnings Release and Conference Call
Brandywine Realty Trust (NYSE:BDN) announced a quarterly cash dividend of $0.19 per common share, with an annualized rate of $0.76. The dividend is payable on April 21, 2021, to shareholders of record as of April 7, 2021. The company will release its first-quarter earnings on April 21, 2021, followed by a conference call on April 22, 2021, at 9:00 a.m. Eastern. Brandywine is a leading REIT focused on the Philadelphia, Austin, and Washington, D.C. markets, managing a portfolio of 175 properties totaling 24.7 million square feet.
- Quarterly cash dividend of $0.19 per share reflects commitment to shareholder returns.
- Annualized dividend rate of $0.76 indicates a stable cash distribution strategy.
- Upcoming earnings release and conference call scheduled, providing transparency to investors.
- Risks from COVID-19 and potential future outbreaks may impact financial performance.
- Reduced demand for office space could limit leasing and rental revenue.
- Volatility in capital and credit markets may affect funding and operational costs.
PHILADELPHIA, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) announced today that its Board of Trustees has declared a quarterly cash dividend of
Conference Call and Audio Webcast
We will release our first quarter earnings after the market close on Wednesday, April 21, 2021, and will hold our first quarter conference call on Thursday, April 22, 2021 at 9:00 a.m. Eastern. The conference call can be accessed by dialing 1-833-818-6810 and providing conference ID: 2956876. Beginning two hours after the conference call, a taped replay of the call can be accessed through Friday, May 7, 2021, by calling 1-855-859-2056 and entering access code 2956876. The conference call can also be accessed via a webcast on our website at www.brandywinerealty.com.
About Brandywine Realty Trust
Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia, Austin and Washington, D.C. markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 175 properties and 24.7 million square feet as of December 31, 2020 which excludes assets held for sale. Our purpose is to shape, connect and inspire the world around us through our expertise, the relationships we foster, the communities in which we live and work, and the history we build together. For more information, please visit www.brandywinerealty.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “will,” “strategy,” “expects,” “seeks,” “believes,” “potential,” or other similar words. Because such statements involve known and unknown risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These forward-looking statements, including our 2021 guidance, are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally not within our control. Such risks, uncertainties and contingencies include, among others: risks related to the impact of COVID-19 and other potential future outbreaks of infectious diseases on our financial condition, results of operations and cash flows and those of our tenants as well as on the economy and real estate and financial markets; reduced demand for office space and pricing pressures, including from competitors, that could limit our ability to lease space or set rents at expected levels or that could lead to declines in rent; uncertainty and volatility in capital and credit markets, including changes that reduce availability, and increase costs, of capital; the potential loss or bankruptcy of tenants or the inability of tenants to meet their rent and other lease obligations; risks of acquisitions and dispositions, including unexpected liabilities and integration costs; delays in completing, and cost overruns incurred in connection with, our developments and redevelopments; disagreements with joint venture partners; unanticipated operating and capital costs; uninsured casualty losses and in ability to obtain adequate insurance, including coverage for terrorist acts; asset impairments; our dependence upon certain geographic markets; changes in governmental regulations, tax laws and rates and similar matters; unexpected costs of REIT qualification compliance; and costs and disruptions as the result of a cybersecurity incident or other technology disruption. The declaration and payment of future dividends (both timing and amount) is subject to the determination of our Board of Trustees, in its sole discretion, after considering various factors, including our financial condition, historical and forecast operating results, and available cash flow, as well as any applicable laws and contractual covenants and any other relevant factors. Our Board’s practice regarding declaration of dividends may be modified at any time and from time to time. Additional information on factors which could impact us and the forward-looking statements contained herein are included in our filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2020. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events except as required by law.
| Company / Investor Contact: Tom Wirth EVP & CFO 610-832-7434 tom.wirth@bdnreit.com |
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