Hudson Pacific Properties Declares Fourth Quarter 2024 Preferred Stock Dividend

Rhea-AI Summary

Hudson Pacific Properties (NYSE: HPP) has announced its fourth quarter 2024 preferred stock dividend. The company's Board of Directors declared a dividend of $0.296875 per share on its 4.750% Series C cumulative preferred stock, which equals an annual rate of $1.18750 per share. The dividend will be paid on December 30, 2024 to preferred stockholders of record as of December 20, 2024.

Positive

• Consistent dividend payment maintained for preferred stockholders

Negative

• None.

Insights

Financial Analyst

This routine preferred dividend declaration, while maintaining Hudson Pacific Properties' commitment to its preferred stockholders, is considered not impactful news for several reasons. The $0.296875 per share quarterly dividend on Series C preferred stock is unchanged from previous quarters, representing standard corporate governance rather than any meaningful change in the company's financial position or strategy.

The announcement simply confirms the continuation of the company's existing 4.750% Series C preferred dividend policy. For investors, particularly in the current challenging commercial real estate environment, consistency in preferred dividend payments is expected but doesn't materially affect investment decisions or stock valuation.

LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. (NYSE: HPP) (the “Company”), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced that its Board of Directors has declared a dividend for the fourth quarter of 2024 on its 4.750% Series C cumulative preferred stock of $0.296875 per share, equivalent to an annual rate of $1.18750 per share, which will be paid on December 30, 2024 to preferred stockholders of record on December 20, 2024.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. For more information visit HudsonPacificProperties.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241210539434/en/

Investor Contact

Laura Campbell

Executive Vice President, Investor Relations & Marketing

(310) 622-1702

lcampbell@hudsonppi.com

Media Contact

Laura Murray

Vice President, Communications

(310) 622-1781

lmurray@hudsonppi.com

Source: Hudson Pacific Properties, Inc.

FAQ

What is Hudson Pacific Properties' Q4 2024 preferred stock dividend amount?

Hudson Pacific Properties (HPP) declared a Q4 2024 preferred stock dividend of $0.296875 per share on its 4.750% Series C cumulative preferred stock.

When will HPP pay its Q4 2024 preferred stock dividend?

HPP will pay its Q4 2024 preferred stock dividend on December 30, 2024 to stockholders of record as of December 20, 2024.

What is the annual dividend rate for HPP's Series C preferred stock?

The annual dividend rate for HPP's 4.750% Series C cumulative preferred stock is $1.18750 per share.