COPT Defense Declares Second Quarter 2024 Common Dividend

Rhea-AI Summary

COPT Defense Properties (NYSE: CDP) declared a regular quarterly dividend of $0.295 per common share for the second quarter ending June 30, 2024. The dividend is payable on July 17, 2024, to shareholders of record on June 28, 2024. COPT Defense is a REIT focused on properties near US Government defense installations.

COLUMBIA, Md.--(BUSINESS WIRE)-- COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) announced today that its Board of Trustees declared a regular quarterly dividend of $0.295 per common share for the second quarter ending June 30, 2024. The second quarter 2024 dividend represents an annualized amount of $1.18 per share and is payable on July 17, 2024, to shareholders of record on June 28, 2024.

About COPT Defense

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (“USG”) defense installations and missions (referred to as its Defense/IT Portfolio). The Company’s tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. As of March 31, 2024, the Company’s Defense/IT Portfolio of 193 properties, including 24 owned through unconsolidated joint ventures, encompassed 22.0 million square feet and was 96.8% leased.

Forward-Looking Information

This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations, estimates and projections reflected in such forward-looking statements are based on reasonable assumptions at the time made, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements and the Company undertakes no obligation to update or supplement any forward-looking statements.

The areas of risk that may affect these expectations, estimates and projections include, but are not limited to, those risks described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Source: COPT Defense Properties

View source version on businesswire.com: https://www.businesswire.com/news/home/20240509350529/en/

IR Contacts:

Venkat Kommineni, CFA

443.285.5587

venkat.kommineni@copt.com



Michelle Layne

443.285.5452

michelle.layne@copt.com

Source: COPT Defense Properties

FAQ

What dividend did COPT Defense declare for the second quarter of 2024?

COPT Defense declared a dividend of $0.295 per common share for the second quarter of 2024.

When is the dividend payable to shareholders?

The dividend is payable on July 17, 2024.

What is the annualized dividend amount per share for the second quarter of 2024?

The annualized amount of the dividend is $1.18 per share.

What is the focus of COPT Defense as a company?

COPT Defense is a REIT focused on owning, operating, and developing properties near US Government defense installations.

How many properties does COPT Defense own in its Defense/IT Portfolio?

As of March 31, 2024, COPT Defense's Defense/IT Portfolio consists of 193 properties, including 24 owned through unconsolidated joint ventures.