Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividend
-Announces Common Stock Dividend Increase of Approximately 29 Percent-
PASADENA, Calif., Nov. 29, 2010 /PRNewswire-FirstCall/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced today that its Board of Directors declared a quarterly cash dividend of 45 cents per common share for the fourth quarter of 2010. This reflects a dividend increase of approximately 29 percent. The dividend is payable on January 17, 2011 to shareholders of record on December 31, 2010.
"We are pleased to announce a 29% increase in our quarterly cash dividend declared to common shareholders for the fourth quarter of 2010. The dividend increase will allow the Company to share its increase in free cash flows with its common shareholders while also continuing to significantly increase retention of free cash flows for reinvestment," said Joel S. Marcus, Chief Executive Officer of Alexandria.
The Company announced that its Board of Directors declared a quarterly cash dividend of 52.34375 cents per share for the fourth quarter of 2010 for its 8.375% Series C Cumulative Redeemable Preferred Stock. The dividend is payable on January 17, 2011 to preferred shareholders of record on December 31, 2010.
The Company also announced that its Board of Directors declared a quarterly cash dividend of 43.75 cents per share for the fourth quarter of 2010 for its 7.00% Series D Cumulative Convertible Preferred Stock. The dividend is payable on January 17, 2011 to preferred shareholders of record on December 31, 2010.
This press release contains forward-looking statements within the meaning of the federal securities laws. Actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the Company's Form 10-K Annual Report and other periodic reports filed with the Securities and Exchange Commission.
SOURCE Alexandria Real Estate Equities, Inc.
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