Digital Realty Raises Quarterly Cash Dividend for Common Stock by 4% to $1.16 per Share

Rhea-AI Summary

Digital Realty (NYSE: DLR) has announced a 4% increase in its quarterly cash dividend for common stock to $1.16 per share, marking the 16th consecutive year of dividend growth. This dividend is payable on March 31, 2021, to shareholders of record as of March 15, 2021. Additionally, preferred stock dividends were confirmed, with amounts ranging from $0.325 to $0.414063 per share, also payable on March 31, 2021. The company's CFO highlighted the strong recurring cash flows that support this consistent dividend increase.

Positive

• 4% increase in quarterly cash dividend to $1.16 per share.
• 16th consecutive year of growing dividends.
• Confidence in strong recurring cash flows.

Negative

• None.

AUSTIN, Texas, Feb. 25, 2021 /PRNewswire/ -- Digital Realty (NYSE: DLR), a leading global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today that its board of directors has authorized quarterly cash dividends for common and preferred stock for the first quarter of 2021. 

"Our board of directors has approved a 4% increase in our quarterly common stock cash dividend to $1.16 per share, reflecting confidence in the underlying strength of our business as well as the strength of the recurring cash flows that support a steadily growing and well covered dividend, while retaining capital to fund future growth opportunities," commented Andrew P. Power, Chief Financial Officer.  "This marks the 16^th consecutive year we have grown our dividend, and we are pleased to be among a select group of REITs to have raised the dividend each and every year since our initial public offering in 2004." 

Common Stock
Digital Realty's board of directors authorized a cash dividend of $1.16 per share to common stockholders of record as of the close of business on March 15, 2021.  The common stock cash dividend will be paid on March 31, 2021. 

Series C Cumulative Redeemable Perpetual Preferred Stock
The company's board of directors authorized a cash dividend of $0.414063 per share to holders of record of the company's 6.625% Series C Cumulative Redeemable Perpetual Preferred Stock as of the close of business on March 15, 2021.  The Series C Cumulative Redeemable Perpetual Preferred Stock cash dividend will be paid on March 31, 2021. 

Series J Cumulative Redeemable Preferred Stock
The company's board of directors authorized a cash dividend of $0.328125 per share to holders of record of the company's 5.250% Series J Cumulative Redeemable Preferred Stock as of the close of business on March 15, 2021.  The Series J Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2021. 

Series K Cumulative Redeemable Preferred Stock
The company's board of directors authorized a cash dividend of $0.365625 per share to holders of record of the company's 5.850% Series K Cumulative Redeemable Preferred Stock as of the close of business on March 15, 2021.  The Series K Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2021. 

Series L Cumulative Redeemable Preferred Stock
The company's board of directors authorized a cash dividend of $0.325000 per share to holders of record of the company's 5.200% Series L Cumulative Redeemable Preferred Stock as of the close of business on March 15, 2021.  The Series L Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2021. 

For Additional Information
Andrew P. Power
Chief Financial Officer
Digital Realty
(415) 738-6500

Investor Relations
John J. Stewart / Jim Huseby
Digital Realty
(415) 738-6500
investorrelations@digitalrealty.com

About Digital Realty
Digital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation and interconnection solutions.  PlatformDIGITAL®, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture (PDx™) solution methodology for scaling digital business and efficiently managing data gravity challenges.  Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with more than 280 facilities in 49 metros across 24 countries on six continents.  To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and Twitter.  

Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the amount and timing of expected payment of dividends on our common stock and preferred stock, and statements related to our financial performance, strategy, growth and dividend policy.  For a list and description of such risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission.  The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

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SOURCE Digital Realty

FAQ

What is the new dividend amount for Digital Realty (DLR)?

Digital Realty (DLR) has raised its quarterly cash dividend by 4% to $1.16 per share.

When will Digital Realty (DLR) pay its next dividend?

The next dividend payment for Digital Realty (DLR) will be on March 31, 2021.

What is the record date for Digital Realty's (DLR) dividend?

The record date for Digital Realty's (DLR) dividend is March 15, 2021.

How long has Digital Realty (DLR) been increasing its dividends?

Digital Realty (DLR) has increased its dividends for 16 consecutive years.