Prologis Board of Directors Approves 25 Percent Increase in Quarterly Common Stock Dividend
Prologis, Inc. (NYSE: PLD) has announced a 25% increase in its annualized dividend to $3.16 per share. The quarterly cash dividend for the period ending March 31, 2022, is set at $0.79 per share for common stockholders, payable on March 31, 2022. The decision reflects the company’s strong organic growth and ongoing confidence in future earnings potential. This boost is attributed to robust same store NOI and earnings from strategic capital deployments, positioning the company for durable growth.
- 25% increase in annualized dividend to $3.16 per share enhances shareholder income.
- Quarterly cash dividend of $0.79 per share demonstrates strong financial performance.
- Confidence in future earnings growth supported by strong organic growth and profitable deployment opportunities.
- None.
SAN FRANCISCO, Feb. 24, 2022 /PRNewswire/ -- The Board of Directors of Prologis, Inc. (NYSE: PLD) today approved a plan to raise the company's annualized dividend level by 25 percent to
- A dividend of
$0.79 per share of the company's common stock, payable on March 31, 2022, to common stockholders of record at the close of business on March 18, 2022; and - A dividend of
$1.06 75 per share of the company's8.54% Series Q Cumulative Redeemable Preferred Stock, payable on March 31, 2022, to Series Q stockholders of record at the close of business on March 18, 2022.
"The increase in our common stock dividend builds on our track record of sector-leading growth and underscores our confidence in the future," said Thomas S. Olinger, chief financial officer, Prologis. "It is underpinned by strong organic growth from same store NOI and Strategic Capital earnings, as well as our unique ability to source profitable deployment opportunities globally — all of which position us for an extended period of durable earnings growth."
ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2021, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.0 billion square feet (93 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,800 customers principally across two major categories: business-to-business and retail/online fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic and political climates; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties; (v) maintenance of real estate investment trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to the current coronavirus pandemic; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-board-of-directors-approves-25-percent-increase-in-quarterly-common-stock-dividend-301490161.html
SOURCE Prologis, Inc.
FAQ
What is the new dividend amount for Prologis (PLD)?
When will the dividend be paid for Prologis (PLD)?
What is the dividend per share for common stockholders of Prologis (PLD)?
What factors contributed to Prologis (PLD) increasing its dividend?
