BXP cuts dividend by 29% as part of growth strategy pivot

BXP Inc. (NYSE: BXP) reduced its quarterly dividend to $0.70 per share from $0.98 per share as the real estate investment trust outlined its growth strategy during an investor day presentation.

The dividend reset will allow BXP to retain approximately $50 million in additional cash each quarter, which the company plans to reinvest in development projects including 343 Madison Avenue in New York. The new dividend applies to the period from July 1 to September 30, 2025, and is payable October 31 to shareholders of record as of September 30.

During the triennial investor day, BXP's leadership team presented strategic priorities focused on growing funds from operations per share and reducing leverage. The company's plan includes growing occupancy across its portfolio of commercial properties in gateway markets, delivering well-leased developments, and selling non-core assets to fund development and reduce debt.

BXP also announced plans to secure private equity partnerships on select assets to complement funding sources and increase investment yields. The company said the dividend reduction better aligns payouts with its taxable income.

The Boston-based real estate investment trust operates as a developer, owner and manager of commercial workplaces across six markets: Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC. As of June 30, 2025, BXP's portfolio included 53.7 million square feet across 186 properties, with ten properties under construction or redevelopment.

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