Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividend

^{Published on 2011-12-01 05:44:22 - Market Wire}
 

Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividend -- PASADENA, Calif., Dec. 1, 2011 /PRNewswire/ --

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QUARTERLY CASH DIVIDEND PER COMMON SHARE UP 40 PERCENT OVER PAST 12 MONTHS

PASADENA, Calif., Dec. 1, 2011 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: [ ARE ]) announced today that its Board of Directors declared a quarterly cash dividend of 49 cents per common share for the fourth quarter of 2011.  This reflects a dividend increase of approximately 4 percent.  The dividend is payable on January 17, 2012, to shareholders of record on December 30, 2011.  The Company's funds from operations payout ratio (quarterly common stock dividend divided by quarterly funds from operations) as of September 30, 2011, was 43 percent.

"We are pleased to announce a 4 percent increase in our quarterly cash dividend declared to common shareholders for the fourth quarter of 2011.  The dividend increase will allow the Company to share its increase in cash flows from operations with its common shareholders while also continuing to significantly increase retention of cash flows from operations for reinvestment.  Over the past 12 months, we have increased our cash dividend per common share by 14 cents, or approximately 40 percent," said Joel S. Marcus, Chief Executive Officer of Alexandria.

The Company announced that its Board of Directors declared a quarterly cash dividend of 52.34375 cents per share for the fourth quarter of 2011 for its 8.375% Series C Cumulative Redeemable Preferred Stock. The dividend is payable on January 17, 2012, to preferred shareholders of record on December 30, 2011.

The Company also announced that its Board of Directors declared a quarterly cash dividend of 43.75 cents per share for the fourth quarter of 2011 for its 7.00% Series D Cumulative Convertible Preferred Stock. The dividend is payable on January 17, 2012, to preferred shareholders of record on December 30, 2011.

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.

SOURCE Alexandria Real Estate Equities, Inc.