Boston Properties Increases Quarterly Dividend by 18.75%
"This dividend increase is the largest quarterly increase in our
history. In 2018 our taxable income is expected to include gains from
both completed and planned asset sales, as we’ve discussed during our
prior earnings calls. Looking ahead to 2019 and beyond, we anticipate
continuing growth in taxable income from the operating portfolio as we
deliver on major developments and continue to increase occupancy in our
existing portfolio over the next few years," said
The Board of Directors also declared a regular quarterly cash dividend
for the Company’s 5.25% Series B Cumulative Redeemable Preferred Stock
(the “Series B Preferred Stock”). The cash dividend of
Boston Properties is one of the largest developers and owners of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust, that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.2 million square feet and consisting of 166 office properties (including nine properties under construction), six residential properties (including three properties under construction), five retail properties and one hotel. For more information, please visit bostonproperties.com.
This press release contains forward-looking statements within the
meaning of the Federal securities laws. You can identify
these statements by our use of the words “assumes,” “believes,”
“budgeted,” “estimates,” “expects,” “guidance,” “intends,” “plans,”
“projects” and similar expressions that do not relate to historical
matters. You should exercise caution in interpreting and
relying on forward-looking statements because they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond Boston Properties’ control and could materially affect actual
results, performance or achievements. These factors include,
without limitation, the Company’s ability to satisfy the closing
conditions to the pending transactions described above, the Company’s
ability to enter into new leases or renew leases on favorable terms,
dependence on tenants’ financial condition, the uncertainties of real
estate development, acquisition and disposition activity, the ability to
effectively integrate acquisitions, the uncertainties of investing in
new markets, the costs and availability of financing, the effectiveness
of our interest rate hedging contracts, the ability of our joint venture
partners to satisfy their obligations, the effects of local, national
and international economic and market conditions, the effects of
acquisitions, dispositions and possible impairment charges on our
operating results, the impact of newly adopted accounting principles on
the Company’s accounting policies and on period-to-period comparisons of
financial results, regulatory changes and other risks and uncertainties
detailed from time to time in the Company’s filings with the
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Source:
Boston Properties, Inc.
Sara Buda
Vice President, Investor
Relations
sbuda@bostonproperties.com