BOSTON--(BUSINESS WIRE)--Dec. 8, 2014--
Boston Properties, Inc. (NYSE: BXP), a real estate investment trust,
announced today that its Board of Directors declared a regular quarterly
cash dividend of $0.65 per share of common stock for the period October
1, 2014 to December 31, 2014 payable on January 28, 2015 to shareholders
of record as of the close of business on December 31, 2014.
In addition, the Company announced that its Board of Directors declared
a special cash dividend of $4.50 per common share payable on January 28,
2015 to shareholders of record as of the close of business on December
31, 2014. The decision to declare a special dividend was primarily a
result of the sale of approximately $2.3 billion of assets in 2014.
After payment of this special dividend, the Company expects that it will
have retained approximately $1.2 billion of cash from such assets sales
for general business purposes, including investments in the Company’s
existing development pipeline and other potential investment
opportunities. The Board of Directors did not make any change to the
Company’s policy with respect to regular quarterly dividends. The
payment of the regular quarterly dividend of $0.65 per share and the
special dividend of $4.50 per share will result in a total payment of
$5.15 per share payable on January 28, 2015.
Holders of common units of limited partnership interest in Boston
Properties Limited Partnership, our Operating Partnership, as of the
close of business on December 31, 2014 will receive the same total
distribution, payable on January 28, 2015.
The Board of Directors also declared a regular quarterly cash dividend
for the Company’s 5.25% Series B Cumulative Redeemable Preferred Stock
(the “Series B Preferred Stock”). The cash dividend of $0.328125 per
depositary share is payable on February 17, 2015 to shareholders of
record as of the close of business on February 5, 2015 and covers the
period from November 16, 2014 to February 15, 2015. Each depositary
share represents 1/100th of a share of Series B Preferred
Boston Properties is a fully integrated, self-administered and
self-managed real estate investment trust that develops, redevelops,
acquires, manages, operates and owns a diverse portfolio of Class A
office space, one hotel, three residential properties and five retail
properties. The Company is one of the largest owners and developers of
Class A office properties in the United States, concentrated in four
markets – Boston, New York, San Francisco and Washington, DC.
For more information about Boston Properties, please visit the Company’s
web site at www.bostonproperties.com.
Source: Boston Properties, Inc.
Boston Properties, Inc.
Arista Joyner, 617-236-3343