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Hudson Pacific Properties, Inc. Declares Initial Dividends

^{Published on 2010-09-10 03:40:22 - Market Wire}
 

LOS ANGELES--([ BUSINESS WIRE ])--Hudson Pacific Properties, Inc. (the aCompanya) (NYSE: HPP) today announced that the Companya™s Board of Directors has declared two dividends on its common stock of $0.0021 per share for the period from June 29, 2010, to June 30, 2010, and $0.095 per share for the third quarter ending September 30, 2010. Both dividends will be paid on October 15, 2010, to stockholders of record on September 30, 2010.

"We are pleased to announce our first dividends since our initial public offering on June 23"

aWe are pleased to announce our first dividends since our initial public offering on June 23,a said Victor Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties. aWe are encouraged by the early progress wea™ve made with the execution of our business strategy, including our initial acquisition activity.a

About Hudson Pacific Properties

Hudson Pacific Properties, Inc.is a full-service, vertically integrated real estate company focused on owning, operating and acquiring high-quality office properties and state-of-the-art media and entertainment properties in select growth markets primarily in Northern and Southern California. The Companya™s investment strategy is focused on high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Companya™s portfolio includes nine properties totaling approximately 2.1 million square feet and four development properties supporting approximately 1.4 million square feet, strategically located in many of the Companya™s target markets. The Company intends to elect to be taxed and to operate in a manner that will allow it to qualify as a real estate investment trust, or REIT, for federal income tax purposes, commencing with the taxable year ending December 31, 2010.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as amay,a awill,a ashould,a aexpects,a aintends,a aplans,a aanticipates,a abelieves,a aestimates,a apredicts,a or apotentiala or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Companya™s control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Companya™s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Companya™s future results to differ materially from any forward-looking statements, see the section entitled aRisk Factorsa in the Companya™s final prospectus dated June 23, 2010, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.