Prologis Declares Quarterly Dividends and Announces Results from Stockholder Meeting

Rhea-AI Summary

The Board of Directors of Prologis declared a cash dividend of $0.79 per share for Q2 2022, to be paid on June 30, 2022. Shareholders of record by June 16, 2022 will receive this dividend. Additionally, a dividend of $1.0675 for the Series Q Cumulative Redeemable Preferred Stock will also be paid on the same date to record holders by June 17, 2022. At its 2022 annual stockholder meeting, Prologis elected 11 directors and approved executive compensation and the appointment of KPMG LLP as auditors.

Positive

• Dividend of $0.79 per share indicates confidence in ongoing profitability.
• Approval of 11 directors ensures stable governance.
• Successful election and compensation approval reflect shareholder satisfaction.

Negative

• None.

SAN FRANCISCO, May 4, 2022 /PRNewswire/ -- The Board of Directors of Prologis, Inc. (NYSE: PLD) declared a regular cash dividend for the quarter ending June 30, 2022, on the following securities:

• A dividend of $0.79 per share of the company's common stock, payable on June 30, 2022, to common stockholders of record at the close of business on June 16, 2022; and
• A dividend of $1.0675 per share of the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, payable on June 30, 2022, to Series Q stockholders of record at the close of business on June 17, 2022.

ANNUAL MEETING RESULTS
The following proposals were approved at the company's 2022 annual stockholder meeting:

• Elect 11 directors to our Board to serve until the next annual meeting of stockholders and until their successors are duly elected and qualified.
• Advisory vote to approve the company's executive compensation for 2021.
• Ratify the appointment of KPMG LLP as our independent registered public accounting firm for the year 2022.

Our stockholders elected Hamid R. Moghadam (chairman), Cristina G. Bita, George L. Fotiades, Lydia H. Kennard, Irving F. Lyons III, Avid Modjtabai, David P. O'Connor, Olivier Piani, Jeffrey L. Skelton, Carl B. Webb and William D. Zollars as directors of the company.

ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2022, 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.

 

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SOURCE Prologis, Inc.

FAQ

What is the dividend amount declared by Prologis for June 2022?

Prologis declared a dividend of $0.79 per share for common stock.

When is the dividend payable for Prologis shareholders?

The dividend is payable on June 30, 2022.

What is the record date for Prologis's dividend?

The record date for the dividend is June 16, 2022.

What other dividends were declared by Prologis?

A dividend of $1.0675 per share was declared for its Series Q Cumulative Redeemable Preferred Stock.

Who were elected as directors during the Prologis annual meeting?

Eleven directors including Hamid R. Moghadam were elected to the Board.