CoreSite Realty (COR) Raises Quarterly Dividend 50.9% to $0.80; 4.5% Yield

December 1, 2016 7:02 AM EST

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CoreSite Realty (NYSE: COR) declared a quarterly dividend of $0.80 per share, or $3.2 annualized. This is a 50.9% increase from the prior dividend of $0.53.

The dividend will be payable on January 16, 2017, to stockholders of record on December 30, 2016, with an ex-dividend date of December 28, 2016.

The annual yield on the dividend is 4.5 percent.

"Our six years of growth as a public company, during which we have achieved effective scale in some of the country's largest and fastest growing multi-tenant data center markets, coupled with our strong balance sheet, enables us to adopt a distribution policy consistent with REITs that have historically provided strong, sustainable shareholder returns,” said Paul Szurek, President and Chief Executive Officer of CoreSite. “We are pleased that these conditions allow us to reward our shareholders with this dividend increase.”

“We have raised our dividend each year since our IPO in 2010, correlating to 35% compound annual growth, furthering our commitment to increasing our dividend in tandem with our growth in cash flow and to delivering superior returns on capital for our shareholders,” added Jeff Finnin, Chief Financial Officer of CoreSite."

For a dividend history and other dividend-related data on CoreSite Realty (COR) click here.

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