LOS ANGELES--(BUSINESS WIRE)--
Kilroy Realty Corporation(NYSE: KRC)announced today that
its board of directors declared a regular quarterly cash dividend of
$0.375 per common share payable on July 13, 2016 to stockholders of
record on June 30, 2016. The dividend is equivalent to an annual rate of
$1.50 per share and is a 7.1% increase from the previous annualized
dividend level of $1.40 per share.
The board of directors also declared a dividend of $0.4296875 per share
on the company’s 6.875% Series G Cumulative Redeemable Preferred Stock
for the period commencing on and including May 15, 2016 up to and
including August 14, 2016. The dividend will be payable on August 15,
2016 to Series G preferred stockholders of record on July 31, 2016. As
July 31, 2016 falls on a Sunday, the effective record date for the
dividend will be Friday, July 29, 2016.
The board of directors also declared a dividend of $0.3984375 per share
on the company’s 6.375% Series H Cumulative Redeemable Preferred Stock
for the period commencing on and including May 15, 2016 up to and
including August 14, 2016. The dividend will be payable on August 15,
2016 to Series H preferred stockholders of record on July 31, 2016. As
July 31, 2016 falls on a Sunday, the effective record date for the
dividend will be Friday, July 29, 2016.
About Kilroy Realty Corporation. With almost 70 years’
experience owning, developing, acquiring and managing real estate assets
in West Coast real estate markets, Kilroy Realty Corporation (KRC), a
publicly traded real estate investment trust and member of the S&P
MidCap 400 Index, is one of the region’s premier landlords. The company
provides physical work environments that foster creativity and
productivity and serves a broad roster of dynamic, innovation-driven
tenants, including technology, entertainment, digital media and health
care companies.
At March 31, 2016, the company’s stabilized portfolio totaled
13.7 million square feet of office properties, all located in the
coastal regions of greater Seattle, the San Francisco Bay Area, Los
Angeles, Orange County and San Diego. The company is recognized by GRESB
as the North American leader in sustainability, ranking first among
155 North American participants across all asset types. At the end of
the first quarter, the company’s properties were 46% LEED certified and
66% of eligible properties were ENERGY STAR certified. In addition, KRC
had approximately 905,000 square feet of office and residential projects
under construction with a total estimated investment of approximately
$645.0 million. More information is available at http://www.kilroyrealty.com.
Forward-Looking Statements. This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements are based
on our current expectations, beliefs and assumptions, and are not
guarantees of future performance. Forward-looking statements are
inherently subject to uncertainties, risks, changes in circumstances,
trends and factors that are difficult to predict, many of which are
outside of our control. Accordingly, actual performance, results and
events may vary materially from those indicated in forward-looking
statements, and you should not rely on forward-looking statements as
predictions of future performance, results or events. Numerous factors
could cause actual future performance, results and events to differ
materially from those indicated in forward-looking statements,
including, among others, risks associated with: investment in real
estate assets, which are illiquid; trends in the real estate industry;
significant competition, which may decrease the occupancy and rental
rates of properties; the ability to successfully complete acquisitions
and dispositions on announced terms; the ability to successfully operate
acquired properties; the availability of cash for distribution and debt
service and exposure of risk of default under debt obligations; adverse
changes to, or implementations of, applicable laws, regulations or
legislation; and the ability to successfully complete development and
redevelopment projects on schedule and within budgeted amounts. These
factors are not exhaustive. For a discussion of additional factors that
could materially adversely affect our business and financial
performance, see the factors included under the caption “Risk Factors”
in our annual report on Form 10-K for the year ended December 31, 2015
and our other filings with the Securities and Exchange Commission. All
forward-looking statements are based on information that was available,
and speak only as of the date on which they are made. We assume no
obligation to update any forward-looking statement made in this press
release that becomes untrue because of subsequent events, new
information or otherwise, except to the extent required in connection
with ongoing requirements under U.S. securities laws.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160519006680/en/
Kilroy Realty Corporation
Tyler H. Rose
Executive Vice
President
and Chief Financial Officer
(310) 481-8484
or
Michelle
Ngo
Senior Vice President
and Treasurer
(310) 481-8581
Source: Kilroy Realty Corporation