Prologis Declares Quarterly Dividends
Prologis, Inc. (NYSE: PLD) announced a cash dividend of $0.63 per share for the quarter ending March 31, 2021, payable on that date to shareholders of record as of March 19, 2021. Additionally, a dividend of $1.0675 per share will be paid on the Series Q Cumulative Redeemable Preferred Stock. Prologis has maintained a 10-year dividend CAGR of 8.4% since the AMB/ProLogis merger in 2011. The company anticipates generating $1.1 billion in cash flow after dividends in 2021, preserving a payout ratio in the low-60 percent range.
- Declared a quarterly cash dividend of $0.63 per share.
- 10-year dividend CAGR of 8.4% since the merger.
- Expected cash flow of $1.1 billion after dividends in 2021.
- None.
SAN FRANCISCO, Feb. 25, 2021 /PRNewswire/ -- The Board of Directors of Prologis, Inc. (NYSE: PLD) declared a regular cash dividend for the quarter ending March 31, 2021, on the following securities:
- A dividend of
$0.63 per share of the company's common stock, payable on March 31, 2021, to common stockholders of record at the close of business on March 19, 2021; and
- A dividend of
$1.06 75 per share of the company's8.54% Series Q Cumulative Redeemable Preferred Stock, payable on March 31, 2021, to Series Q stockholders of record at the close of business on March 19, 2021.
"Since the AMB/ProLogis merger in 2011, our exceptional 10-year dividend CAGR of 8.4 percent has grown commensurate with our core earnings," said Thomas S. Olinger, chief financial officer, Prologis. "In 2021, we expect to generate
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, 2020, 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 984 million square feet (91 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 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.
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