Alexandria Real Estate Equities, Inc. (ARE) has declared a quarterly cash dividend of $1.30 per common share for the third quarter of 2024, payable on October 15, 2024 to shareholders of record on September 30, 2024. This represents an increase of 24 cents, or 5%, over the dividend paid for the same period in 2023. The company’s annual dividend for the 12 months ending September 30, 2024 will be $5.14 per common share. This dividend increase is a testament to Alexandria’s continued strong financial performance and commitment to shareholder value.
The company’s ability to consistently generate high-quality, strong, and increasing net cash from operating activities has allowed it to share its success with its common stockholders while retaining a significant portion for reinvestment in its highly leased pipeline of new Class A/A+ development and redevelopment projects. For the five-year period ending December 31, 2024, Alexandria expects to generate an aggregate of $2.1 billion of net cash from operating activities after dividends for reinvestment.
Alexandria’s dividend payout ratio (quarterly common stock dividends divided by quarterly funds from operations) remains favorably low at 55% for the three months ended June 30, 2024. This demonstrates the company’s commitment to maintaining a healthy balance between dividend payouts and reinvestment in future growth opportunities. Continued growth in the company’s net cash from operating activities will continue to fuel opportunities to increase the company’s quarterly cash dividend per common share while maintaining a low FFO payout ratio.
Alexandria Real Estate Equities, Inc. (ARE), an S&P 500® company, is a best-in-class, mission-driven life science real estate investment trust (REIT). As the pioneer of the life science real estate niche since its founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science mega campuses in AAA innovation cluster locations across the United States, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle, and New York City.
