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Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividend Of 56 Cents Per Common Share; Up 6% Over Third Quarter Of 2012

PASADENA, Calif., Nov. 27, 2012 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced today that its Board of Directors declared a quarterly cash dividend of 56 cents per common share for the fourth quarter of 2012.  This reflects a dividend increase of approximately 6 percent over the third quarter of 2012.  The dividend is payable on January 15, 2013, to shareholders of record on December 31, 2012.  The Company's funds from operations payout ratio (quarterly common stock dividend divided by quarterly funds from operations) as of September 30, 2012, was 50 percent.

"We are pleased to announce a 6 percent increase in our quarterly cash dividend declared to common shareholders to 56 cents per common share for the fourth quarter of 2012.  The dividend increase will allow the Company to share its increase in cash flows from operations with its common shareholders while also continuing to retain cash flows from operations for reinvestment.  Over the past 12 months, we have increased our cash dividend declared per common share by 23 cents, or approximately 12 percent, from $1.86 per common share for 2011 to $2.09 for 2012," said Joel S. Marcus, Chief Executive Officer of Alexandria.

The Company announced that its Board of Directors declared a quarterly cash dividend of 43.75 cents per share for the fourth quarter of 2012 for its 7.00% Series D Cumulative Convertible Preferred Stock. The dividend is payable on January 15, 2013, to preferred shareholders of record on December 31, 2012.

The Company also announced that its Board of Directors declared a quarterly cash dividend of 40.3125 cents per share for the fourth quarter of 2012 for its 6.45% Series E Cumulative Redeemable Preferred Stock. The dividend is payable on January 15, 2013, to preferred shareholders of record on December 31, 2012.

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 Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

Stock quotes in this article: ARE 

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