SAN FRANCISCO, July 19, 2010 /PRNewswire via COMTEX/ --
Digital Realty Trust, Inc. (NYSE:DLR, news, filings), a leading owner and manager of corporate and Internet gateway datacenters, today announced that its Board of Directors has authorized quarterly common and preferred stock dividends for the third quarter of 2010.
"We are increasing the quarterly common stock dividend by 10.4% to $0.53 per share in anticipation of increased REIT taxable income and distribution requirements for 2010," commented A. William Stein, Chief Financial Officer and Chief Investment Officer of Digital Realty Trust. "With this increase the annual dividend payment for 2010 equates to $2.02 per share, up 37% from the full year 2009 dividend payment of $1.47 per share. This is a result of our growing cash flow primarily due to our recent acquisitions and leasing activities."
Common Stock Dividend
Digital Realty Trust's Board of Directors authorized a quarterly common stock dividend of $0.53 per share to common stockholders of record as of the close of business on September 15, 2010. The common stock dividend will be paid on September 30, 2010.
Series A Cumulative Redeemable Preferred Stock Dividend
The Company's Board of Directors authorized a quarterly preferred stock dividend of $0.53125 per share to holders of record of the Company's 8.50% Series A Cumulative Redeemable Preferred Stock as of the close of business on September 15, 2010. The series A cumulative redeemable preferred stock dividend will be paid on September 30, 2010.
Series B Cumulative Redeemable Preferred Stock Dividend
The Company's Board of Directors authorized a preferred stock dividend of $0.492188 per share to holders of record of the Company's 7.875% Series B Cumulative Redeemable Preferred Stock as of the close of business on September 15, 2010. The series B cumulative redeemable preferred stock dividend will be paid on September 30, 2010.
Series C Cumulative Convertible Preferred Stock Dividend
The Company's Board of Directors authorized a preferred stock dividend of $0.273438 per share to holders of record of the Company's 4.375% Series C Cumulative Convertible Preferred Stock as of the close of business on September 15, 2010. The series C cumulative convertible preferred stock dividend will be paid on September 30, 2010.
Series D Cumulative Convertible Preferred Stock Dividend
The Company's Board of Directors authorized a preferred stock dividend of $0.34375 per share to holders of record of the Company's 5.500% Series D Cumulative Convertible Preferred Stock as of the close of business on September 15, 2010. The series D cumulative convertible preferred stock dividend will be paid on September 30, 2010.
About Digital Realty Trust, Inc.
Digital Realty Trust owns, acquires, redevelops, develops and manages technology-related real estate. The Company is focused on providing Turn-Key Datacenter(R) and Powered Base Building(R) datacenter solutions for domestic and international tenants across a variety of industry verticals ranging from information technology and internet enterprises, to manufacturing and financial services. Digital Realty Trust's 92 properties, excluding one property held as an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 16.1 million square feet as of July 19, 2010, including 2.0 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 27 markets throughout Europe and North America. For additional information, please visit Digital Realty Trust's website at http://www.digitalrealtytrust.com.
Safe Harbor Statement
This press release contains forward-looking statements, including statements related to the amount and timing of expected payment of dividends on our common stock and preferred stock and statements related to our financial performance and expected REIT taxable income and distribution requirements for 2010, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions; current local economic conditions in our geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing; increased interest rates and operating costs; our failure to repay debt when due or our breach of covenants or other terms contained in our loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; our ability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data center space; our inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; our inability to comply with the rules and regulations applicable to public companies; our failure to maintain our status as a REIT; potential adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in real estate and zoning laws and increases in real property tax rates. For a further list and description of such risks and uncertainties, see the reports and other filings by the Company with the United States Securities and Exchange Commission, including the Company's annual report on Form 10-K for the year ended December 31, 2009 and subsequent quarterly reports on Form 10-Q. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For Additional Information: A. William Stein Chief Financial Officer Chief Investment Officer Digital Realty Trust,Inc. +1 (415) 738-6500 Pamela Matthews Director of Investor Relations Digital Realty Trust, Inc. +1 (415) 738-6500