CUPERTINO, Calif., Dec. 16, 2010 /PRNewswire-FirstCall/ -- Mission West Properties, Inc. (Nasdaq: MSW) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.15 per common share payable on January 6, 2011 to all common stockholders of record on December 31, 2010. The dividend is equivalent to an annual rate of $0.60 per share, which represents an 8.9 percent annualized yield based on the latest closing price of $6.72 per share.
The Company intends to make regular quarterly distributions to holders of its common stock based upon its cash available for distribution.
NOTIFICATION OF CONFERENCE CALL
February 3, 2011 at 8:00 AM Pacific Time
Mission West Properties, Inc./Carl E. Berg will have a conference call to provide an update on recent Silicon Valley R&D market developments and discuss the fourth quarter and full year 2010 earnings results. The conference call will end with a question and answer session. The dial in number for the conference call is:
A recording of this conference call will be available from February 3, 2011 at 10:00 AM Pacific Time through February 17, 2011 at 11:59 PM Pacific Time by dialing:
Mission West Properties, Inc. operates as a self-managed, self-administered and fully integrated REIT engaged in the management, leasing, marketing, development and acquisition of commercial R&D properties, primarily located in the Silicon Valley portion of the San Francisco Bay Area. Currently, the Company manages 111 properties totaling approximately 8.0 million rentable square feet. For additional information, please contact Investor Relations at 408-725-0700.
The matters described herein contain forward-looking statements. Such statements can be identified by the use of forward-looking terminology such as "will," "anticipate," "estimate," "expect," "intends," or similar words. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, the ability to complete acquisitions under the Company's Berg Land Holdings Option Agreement with the Berg Group, changing economic and real estate industry conditions, leasing risk, rollover risk, tenant credit risk, interest rate risk, and other factors detailed in the Company's registration statements, and periodic filings with the Securities & Exchange Commission.
SOURCE Mission West Properties, Inc.