SAN FRANCISCO, Feb. 22, 2018 /PRNewswire/ -- The Board of
Directors of Prologis, Inc. (NYSE: PLD) today approved a plan to
raise the company's annualized dividend level by 9 percent to
$1.92 per share of common
stock. The board declared a regular cash dividend for the
quarter ending March 31, 2018, on the
following securities:
- A dividend of $0.48 per share of the company's common stock,
which will be payable on March 29,
2018, to common stockholders of record at the close of
business on March 15, 2018; and
- A dividend of $1.0675 per share of the company's 8.54% Series Q
Cumulative Redeemable Preferred Stock, which will be payable on
April 2, 2018, to Series Q
stockholders of record at the close of business on March 19, 2018.
"The increase in our common stock dividend underscores our
confidence in the future," said Thomas S.
Olinger, chief financial officer, Prologis. "The 9 percent
increase is underpinned by growth in same store NOI, as well as our
ability to source profitable deployment opportunities globally—all
of which position us for an extended period of durable earnings
growth."
About Prologis
Prologis, Inc. is the global leader in
logistics real estate with a focus on high-barrier, high-growth
markets. As of December 31, 2017, the
company owned or had investments in, on a wholly owned basis or
through co-investment ventures, properties and development projects
expected to total approximately 684 million square feet (64 million
square meters) in 19 countries. Prologis leases modern distribution
facilities to a diverse base of approximately 5,000 customers
across two major categories: business-to-business and retail/online
fulfillment.
Forward-Looking Statements
The statements in this
document that are not historical facts are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements are based on
current expectations, estimates and projections about the industry
and markets in which Prologis operates, management's beliefs and
assumptions made by management. Such statements involve
uncertainties that could significantly impact Prologis' financial
results. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," variations of such words
and similar expressions are intended to identify such
forward-looking statements, which generally are not historical in
nature. All statements that address operating performance,
events or developments that we expect or anticipate will occur in
the future — including statements relating to rent and occupancy
growth, development activity and changes in sales or contribution
volume of properties, disposition activity, general conditions in
the geographic areas where we operate, our debt and financial
position, our ability to form new co-investment ventures and the
availability of capital in existing or new co-investment ventures —
are forward-looking statements. These statements are not guarantees
of future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. Some of the factors that may
affect outcomes and results include, but are not limited to: (i)
national, international, regional and local economic climates, (ii)
changes in financial markets, interest rates and foreign currency
exchange rates, (iii) increased or unanticipated competition for
our properties, (iv) risks associated with acquisitions,
dispositions and development of properties, (v) maintenance of real
estate investment trust ("REIT") status and tax structuring, (vi)
availability of financing and capital, the levels of debt that we
maintain and our credit ratings, (vii) risks related to our
investments in our co-investment ventures and funds, including our
ability to establish new co-investment ventures and funds, (viii)
risks of doing business internationally, including currency risks,
(ix) environmental uncertainties, including risks of natural
disasters, and (x) those additional factors discussed in reports
filed with the Securities and Exchange Commission by Prologis under
the heading "Risk Factors." Prologis undertakes no duty to update
any forward-looking statements appearing in this document.
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SOURCE Prologis, Inc.