AMB Property Corporation(R) Declares Quarterly Dividends
May 08 2008 - 4:30PM
PR Newswire (US)
Company also announces results of 2008 Annual Stockholders' Meeting
SAN FRANCISCO, May 8 /PRNewswire-FirstCall/ -- The Board of
Directors of AMB Property Corporation(R) (NYSE:AMB) today declared
a regular cash dividend for the quarter ending June 30, 2008 of
$0.52 per common share. The dividend will be payable on July 15,
2008 to common stockholders of record at the close of business on
July 3, 2008. The Board also declared a dividend of $0.40625 per
share on the company's 6.5% Series L Cumulative Redeemable
Preferred Stock (NYSE:AMBNYSE:PrL) for the period commencing on and
including April 15, 2008 and ending on and including July 14, 2008.
The dividend will be payable on July 15, 2008 to Series L
stockholders of record at the close of business on July 3, 2008.
The Board further declared a dividend of $0.421875 per share on the
company's 6.75% Series M Cumulative Redeemable Preferred Stock
(NYSE:AMBNYSE:PrM) for the period commencing on and including April
15, 2008 and ending on and including July 14, 2008. The dividend
will be payable on July 15, 2008 to Series M stockholders of record
at the close of business on July 3, 2008. The Board further
declared a dividend of $0.4375 per share on the company's 7.0%
Series O Cumulative Redeemable Preferred Stock (NYSE:AMBNYSE:PrO)
for the period commencing on and including April 15, 2008 and
ending on and including July 14, 2008. The dividend will be payable
on July 15, 2008 to Series O stockholders of record at the close of
business on July 3, 2008. The Board further declared a dividend of
$0.428125 per share on the company's 6.85% Series P Cumulative
Redeemable Preferred Stock (NYSE:AMBNYSE:PrP) for the period
commencing on and including April 15, 2008 and ending on and
including July 14, 2008. The dividend will be payable on July 15,
2008 to Series P stockholders of record at the close of business on
July 3, 2008. Annual Meeting Results The company held its annual
meeting of stockholders this afternoon in San Francisco,
California. The stockholders approved two proposals: electing nine
directors to serve until the next annual meeting of stockholders
and until their successors are duly elected and qualified, and
ratifying the appointment of PricewaterhouseCoopers LLP as the
company's independent registered public accounting firm for the
fiscal year ending December 31, 2008. The stockholders of AMB
Property Corporation elected Hamid R. Moghadam (chairman), T.
Robert Burke, David A. Cole, Lydia H. Kennard, J. Michael Losh,
Frederick W. Reid, Jeffrey L. Skelton, Thomas W. Tusher and Carl B.
Webb as directors of the company. AMB Property Corporation.(R)
Local partner to global trade.(TM) AMB Property Corporation(R) is a
leading global developer and owner of industrial real estate,
focused on major hub and gateway distribution markets in the
Americas, Europe and Asia. As of March 31, 2008, AMB owned, or had
investments in, on a consolidated basis or through unconsolidated
joint ventures, properties and development projects expected to
total approximately 150.2 million square feet (14.0 million square
meters) in 45 markets within 14 countries. AMB invests in
properties located predominantly in the infill submarkets of its
targeted markets. The company's portfolio is comprised of High
Throughput Distribution(R) facilities-industrial properties built
for speed and located near airports, seaports and ground
transportation systems. AMB's press releases are available on the
company website at http://www.amb.com/ or by contacting the
Investor Relations department at +1 415 394 9000. Some of the
information included in this press release contains forward-looking
statements, such as those related to our expectations for the
timing and amount of the company's dividend payments, which are
made pursuant to the safe-harbor provisions of Section 21E of the
Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended. Because these forward-looking
statements involve risks and uncertainties, there are important
factors that could cause our actual results to differ materially
from those in the forward-looking statements, and you should not
rely on the forward-looking statements as predictions of future
events. The events or circumstances reflected in forward-looking
statements might not occur. You can identify forward-looking
statements by the use of forward-looking terminology such as
"believes," "expects," "may," "will," "should," "seeks,"
"approximately," "intends," "plans," "pro forma," "estimates" or
"anticipates" or the negative of these words and phrases or similar
words or phrases. You can also identify forward-looking statements
by discussions of strategy, plans or intentions. Forward-looking
statements are necessarily dependent on assumptions, data or
methods that may be incorrect or imprecise and we may not be able
to realize them. We caution you not to place undue reliance on
forward-looking statements, which reflect our analysis only and
speak only as of the date of this report or the dates indicated in
the statements. We assume no obligation to update or supplement
forward-looking statements. The following factors, among others,
could cause actual results and future events to differ materially
from those set forth or contemplated in the forward-looking
statements: defaults on or non-renewal of leases by tenants,
increased interest rates and operating costs, our failure to obtain
necessary outside financing, re-financing risks, risks related to
our obligations in the event of certain defaults under joint
venture and other debt, risks related to debt and equity security
financings (including dilution risk), difficulties in identifying
properties to acquire and in effecting acquisitions, our failure to
successfully integrate acquired properties and operations, our
failure to divest properties we have contracted to sell or to
timely reinvest proceeds from any divestitures, risks and
uncertainties affecting property development and construction
(including construction delays, cost overruns, our inability to
obtain necessary permits and public opposition to these
activities), our failure to qualify and maintain our status as a
real estate investment trust, risks related to our tax structuring,
failure to maintain our current credit agency ratings,
environmental uncertainties, risks related to natural disasters,
financial market fluctuations, changes in general economic
conditions or in the real estate sector, changes in real estate and
zoning laws, a downturn in the U.S., California or global economy,
risks related to doing business internationally and global
expansion, losses in excess of our insurance coverage, unknown
liabilities acquired in connection with acquired properties or
otherwise and increases in real property tax rates. Our success
also depends upon economic trends generally, including interest
rates, income tax laws, governmental regulation, legislation,
population changes and certain other matters discussed under the
heading "Risk Factors" and elsewhere in our annual report on Form
10-K for the year ended December 31, 2007. DATASOURCE: AMB Property
Corporation CONTACT: Tracy A. Ward, Director, Investor Relations of
AMB, Direct, +1-415-733-9565, Fax, +1-415-477-2065, Web site:
http://www.amb.com/
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