COPT Declares 96th Consecutive Common Dividend

Rhea-AI Summary

Corporate Office Properties Trust (NYSE: OFC) announced a quarterly dividend of $0.275 per common share for Q4 2021, amounting to an annualized $1.10 per share. The dividend is payable on January 18, 2022, to shareholders of record on January 3, 2022. As of September 30, 2021, COPT's core portfolio included 184 properties, comprising 21.5 million square feet and a leasing rate of 94.8%. The majority of its revenue, 88%, comes from Defense/IT Locations, underscoring its focus on government and defense-related real estate.

Positive

• Quarterly dividend of $0.275 per share indicates ongoing income for shareholders.
• High leasing rate of 94.8% reflects demand for COPT's properties.
• Majority of revenue (88%) derived from stable Defense/IT Locations, providing resilient income.

Negative

• None.

COLUMBIA, Md.--(BUSINESS WIRE)-- Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC) announced today that its Board of Trustees declared a regular quarterly dividend of $0.275 per common share for the fourth quarter ending December 31, 2021. The fourth quarter 2021 dividend represents an annualized amount of $1.10 per share and is payable on January 18, 2022, to shareholders of record on January 3, 2022.

About COPT

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing what the Company believes are growing, durable, priority missions (such properties, “Defense/IT Locations”). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of September 30, 2021, the Company derived 88% of its core portfolio annualized rental revenue from Defense/IT Locations and 12% from its Regional Office Properties. As of the same date and including 19 properties owned through unconsolidated joint ventures, COPT’s core portfolio of 184 office and data center shell properties encompassed 21.5 million square feet and was 94.8% leased; the Company also owned one wholesale data center with a capacity of 19.25 megawatts that was 86.7% 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, 2020.

Category: Dividend Info

Source: Corporate Office Properties Trust

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118006279/en/

IR Contacts:

Stephanie Krewson-Kelly

443-285-5453

stephanie.kelly@copt.com

Michelle Layne

443-285-5452

michelle.layne@copt.com

Source: Corporate Office Properties Trust

FAQ

What is the dividend amount for OFC for Q4 2021?

The dividend amount for Corporate Office Properties Trust (OFC) for Q4 2021 is $0.275 per common share.

When can shareholders expect the dividend payment for OFC?

Shareholders can expect the dividend payment for OFC on January 18, 2022.

What are the record dates for the OFC dividend?

The record date for the OFC dividend is January 3, 2022.

How much of OFC's revenue comes from Defense/IT Locations?

As of September 30, 2021, 88% of OFC's core portfolio annualized rental revenue comes from Defense/IT Locations.