COPT Declares 99th Consecutive Common Dividend

Rhea-AI Summary

Corporate Office Properties Trust (NYSE: OFC) declared a quarterly dividend of $0.275 per common share for Q3 2022, amounting to an annualized $1.10 per share. This dividend is payable on October 17, 2022, to shareholders of record as of September 30, 2022. COPT focuses on owning, managing, and developing office and data center properties, with 90% of its core annualized rental revenue from Defense/IT Locations. As of June 30, 2022, COPT’s portfolio included 186 properties with a total of 21.9 million square feet and was 93.7% leased.

Positive

• Quarterly dividend of $0.275 per share, indicating a commitment to returning value to shareholders.
• Annualized dividend amount of $1.10 per share enhances investor confidence.
• Core portfolio consists of 186 properties with a substantial leasing rate of 93.7%.

Negative

• None.

COLUMBIA, Md.--(BUSINESS WIRE)-- Corporate Office Properties Trust (NYSE: OFC) (“COPT” or the “Company”) announced today that its Board of Trustees declared a regular quarterly dividend of $0.275 per common share for the third quarter ending September 30, 2022. The third quarter 2022 dividend represents an annualized amount of $1.10 per share and is payable on October 17, 2022, to shareholders of record on September 30, 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 (“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 June 30, 2022, the Company derived 90% of its core portfolio annualized rental revenue from Defense/IT Locations and 10% from its Regional Office Properties. As of the same date and including 19 properties owned through unconsolidated joint ventures, COPT’s core portfolio of 186 properties encompassed 21.9 million square feet and was 93.7% 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, 2021.

Source: Corporate Office Properties Trust

View source version on businesswire.com: https://www.businesswire.com/news/home/20220811005660/en/

IR Contact:

Michelle Layne

443-285-5452

michelle.layne@copt.com

Source: Corporate Office Properties Trust

FAQ

What is the dividend amount declared by OFC for Q3 2022?

The dividend amount declared by Corporate Office Properties Trust (OFC) for Q3 2022 is $0.275 per common share.

When will the dividend for OFC be paid?

The dividend for Corporate Office Properties Trust (OFC) will be paid on October 17, 2022.

What is the annualized dividend amount for OFC shareholders?

The annualized dividend amount for Corporate Office Properties Trust (OFC) shareholders is $1.10 per share.

What percentage of OFC's core portfolio is leased?

As of June 30, 2022, 93.7% of Corporate Office Properties Trust's (OFC) core portfolio is leased.