BOSTON, March 4, 2013 /PRNewswire/ -- STAG Industrial, Inc. (NYSE: STAG) (the "Company"), announced today that its Board of Directors approved an 11.1% increase in the Company's annual common stock dividend from the current annual rate of $1.08 per share to $1.20 per share. The increased dividend represents an annual dividend rate of 5.6% based on the Company's closing pricing on March 1, 2013 of $21.30. In reviewing its dividend policy, the Board determined that it will continue to evaluate the Company's dividend each quarter.
This increase commences with the payment of the first quarter common stock dividend, payable on April 15, 2013 to all common stockholders of record on March 28, 2013, and will amount to $0.30 per share on a quarterly basis.
The Company's Board of Directors also declared a March 15, 2013 record date for the payment of the first quarter preferred stock dividend for the Company's 9.0% Series A Cumulative Redeemable Preferred Stock (NYSE: STAG Pr A). The Company confirmed that the dividend is $0.5625 per share, or $2.25 per share on an annualized basis and will be payable on April 1, 2013.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a fully integrated, full-service real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. STAG's portfolio consists of 175 properties in 32 states with approximately 30.1 million rentable square feet.
For additional information, please visit the Company's website at www.stagindustrial.com.
This press release, together with other statements and information publicly disseminated by STAG Industrial, Inc. (the "Company"), contains certain 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. Forward-looking statements in this press release include, among others, statements about future sale leaseback transactions and the potential closing of the acquisition of seven industrial properties. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's annual report on Form 10-K for the year ended December 31, 2011, as updated by the Company's quarterly reports on Form 10-Q. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
SOURCE STAG Industrial, Inc.