Iron Mountain Increases Quarterly Dividend per Share by 5%

Rhea-AI Summary

Iron Mountain Incorporated (NYSE: IRM) has declared a quarterly cash dividend of $0.65 per share for the third quarter. The dividend is payable on October 5, 2023, to shareholders of record on September 15, 2023. This represents a 5% increase from the previous dividend. William L. Meaney, President and CEO, stated that the increase is in line with their long-term strategy and commitment to disciplined capital allocation.

PORTSMOUTH, N.H.--(BUSINESS WIRE)-- The Board of Directors (the “Board”) of Iron Mountain Incorporated (NYSE: IRM), a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services, declared a quarterly cash dividend of $0.65 per share for the third quarter, payable on October 5, 2023 to shareholders of record on September 15, 2023.

“Consistent with our long term commentary that we would increase the dividend as our payout ratio of Adjusted Funds from Operations settled into the low to mid 60s as a percentage, we are pleased to announce a 5% increase to our dividend.” said William L. Meaney, President and Chief Executive Officer. “We remain committed to our disciplined approach to capital allocation, and our ability to achieve our growth ambitions with Project Matterhorn whilst raising our dividend.”

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER™ to transform their businesses. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction, and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.

To learn more about Iron Mountain, please visit: www.IronMountain.com and follow @IronMountain on Twitter and LinkedIn.

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Investor Relations:

Gillian Tiltman

SVP, Head of Investor Relations

Gillian.Tiltman@ironmountain.com

(617) 286-4881

Sarah Barry

Senior Manager, Investor Relations

Sarah.Barry@ironmountain.com

(617) 237-6597

Source: Iron Mountain Incorporated

FAQ

What is the dividend declared by Iron Mountain Incorporated for the third quarter?

Iron Mountain Incorporated has declared a quarterly cash dividend of $0.65 per share for the third quarter.

When will the dividend be payable?

The dividend will be payable on October 5, 2023.

Who are eligible to receive the dividend?

Shareholders of record on September 15, 2023, are eligible to receive the dividend.

What is the percentage increase in the dividend?

The dividend represents a 5% increase from the previous dividend.

What is the reason behind the dividend increase?

According to William L. Meaney, President and CEO, the increase is consistent with their long-term strategy and commitment to disciplined capital allocation.