Alexandria Real Estate Equities, Inc. Declares Cash Dividend of $1.30 per Common Share for 3Q24, for an Aggregate of $5.14 per Common Share for the 12 Months Ending September 30, 2024, an Increase of 24 Cents, or 5 Percent, Over the 12 Months Ended September 30, 2023
Rhea-AI Summary
Alexandria Real Estate Equities (NYSE: ARE) has declared a quarterly cash dividend of $1.30 per common share for 3Q24, payable on October 15, 2024, to stockholders of record on September 30, 2024. This brings the total dividend for the 12 months ending September 30, 2024, to $5.14 per common share, representing a 5% increase from the previous year. The company maintains a low dividend payout ratio of 55% for Q2 2024, allowing significant reinvestment into its development projects. ARE expects to generate $2.1 billion in net cash for reinvestment over the five-year period ending December 31, 2024. This strategy aims to balance shareholder returns with continued growth opportunities.
Positive
- Declared quarterly dividend of $1.30 per share, totaling $5.14 for the year
- 5% increase in annual dividend compared to previous year
- Low dividend payout ratio of 55%, indicating financial stability
- Expected $2.1 billion in net cash for reinvestment over five years
Negative
- None.
News Market Reaction – ARE
In the trading session that priced this news, ARE declined 0.71%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The dividend allows the company to share its continued high-quality, strong and increasing net cash provided by operating activities with its common stockholders while retaining a significant portion for reinvestment into its highly leased pipeline of new Class A/A+ development and redevelopment projects. For the five-year period ending December 31, 2024, the company expects to generate for reinvestment an aggregate
1. Net cash provided by operating activities after dividends (i) excludes timing differences such as changes in operating assets and liabilities and (ii) includes deductions for distributions to the company's consolidated real estate joint venture partners. Amount represents the years ended December 31, 2020 through 2023 and the midpoint of our 2024 guidance range as provided on July 22, 2024. |
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche with our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science mega campuses in AAA innovation cluster locations, including
This press release includes "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.
CONTACT: Marc E. Binda, Chief Financial Officer & Treasurer, (626) 578-0777,
mbinda@are.com
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SOURCE Alexandria Real Estate Equities, Inc.