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Prologis, Inc. Message Board

  • ngulassort ngulassort Dec 9, 2008 10:31 AM Flag

    PLD gives a $2.07 dividend per share?

    Is this right?

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    • rpbremer@sbcglobal.net rpbremer Dec 10, 2008 2:23 PM Flag

      The companies web page is a good place for dividend info.

      DENVER, Dec 01, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that its Board declared a dividend in the amount of $1.0675 per Cumulative Redeemable Series C preferred share, payable on December 31, 2008, to shareholders of record on December 16, 2008. Series C preferred share dividends are cumulative and payable quarterly at an annualized rate of $4.27 per share.

      ProLogis' Board also declared a dividend of $0.4219 per Cumulative Redeemable Series F preferred share, payable on December 31, 2008, to shareholders of record on December 16, 2008. Series F preferred share dividends are cumulative and payable quarterly at an annualized rate of $1.6875 per share.

      In addition, ProLogis' Board declared a dividend of $0.4219 per Cumulative Redeemable Series G preferred share, payable on December 31, 2008, to shareholders of record on December 16, 2008. Series G preferred share dividends are cumulative and payable quarterly at an annualized rate of $1.6875 per share.

      DENVER, Nov 03, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that its Board declared ProLogis' fourth quarter dividend of $0.5175 per common share, payable on November 26, 2008, to shareholders of record on November 12, 2008.

      • 1 Reply to rpbremer
      • rpbremer@sbcglobal.net rpbremer Dec 11, 2008 11:14 AM Flag

        UPDATE :

        We (PLD Board) announce the following year's projected annual Common Share dividend level after the annual review and approval of our budget by our Board, usually in December of each year. In light of recent economic events, at a meeting in November 2008 our Board announced a projected decrease in the annual dividend level from $2.07 in 2008, to $1.00 per Common Share in 2009. Reducing the dividend will permit the company to retain additional capital, which will be used to repay debt and strengthen the balance sheet. The payment of dividends is dependent upon our financial condition and operating results and may be adjusted during the year at the discretion of our Board.

        Our current policy is to pay quarterly dividends to shareholders based upon what we consider to be a reasonable percentage of cash flow and at the level that will allow us to continue to qualify as a REIT for tax purposes. Because depreciation is a non-cash expense, cash flow will typically be greater than net earnings. Therefore, annual dividends are expected to be consistently higher than annual earnings.

    • eddahl@sbcglobal.net eddahl Dec 10, 2008 10:50 AM Flag

      it got halved to a buck, recently

    • No, after the board fired the CEO they revised 2009 divi to $1.00.
      This is not guaranteed either.
      As a REIT they are required to pay out 90% of profit to share holders.

 
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