Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividend of 77 Cents Per Common Share Up 4 Percent Over 4Q14

PASADENA, Calif., Dec. 8, 2015 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the largest and leading urban office real estate investment trust uniquely focused on collaborative science and technology campuses in AAA innovation cluster locations, announced today that its Board of Directors declared a quarterly cash dividend of 77 cents per common share for the fourth quarter of 2015. The dividend is payable on January 15, 2016, to shareholders of record on December 31, 2015. The common stock dividend for the fourth quarter of 2015 of 77 cents per common share represents an increase of 3 cents, or 4 percent, over the fourth quarter of 2014. The quarterly common stock dividends for the full year 2015 aggregated $3.05, representing an increase of 17 cents, or 6 percent, over the aggregate dividends for the full year 2014.

"We are pleased to announce a quarterly cash dividend to common shareholders of 77 cents per common share for the fourth quarter of 2015. The dividend allows the Company to share its continued high-quality, strong, and increasing cash flows from operations with its common shareholders while also continuing to retain cash flows from operating activities for reinvestment into our significantly leased value-creation pipeline. Additionally, our funds from operations payout ratio (quarterly common stock dividend divided by quarterly funds from operations) remains favorably low at 58 percent as of September 30, 2015. Growth in cash provided by operating activities after dividends will generate additional opportunities to grow our quarterly cash dividend per common share while maintaining a low funds from operations payout ratio," said Joel S. Marcus, chairman, chief executive officer and founder of Alexandria Real Estate Equities, Inc.

The Company announced that its Board of Directors declared a quarterly cash dividend of 43.75 cents per share for the fourth quarter of 2015 for its 7 percent Series D Cumulative Convertible Preferred Stock. The dividend is payable on January 15, 2016, to preferred shareholders of record on December 31, 2015.

The Company also announced that its Board of Directors declared a quarterly cash dividend of 40.3125 cents per share for the fourth quarter of 2015 for its 6.45 percent Series E Cumulative Redeemable Preferred Stock. The dividend is payable on January 15, 2016, to preferred shareholders of record on December 31, 2015.

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.

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SOURCE Alexandria Real Estate Equities, Inc.