SAN FRANCISCO, Feb. 22, 2018 – 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.”
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.