COPT Declares First Quarter 2013 Dividends
COLUMBIA, Md.--(BUSINESS WIRE)-- The Board of Trustees of Corporate Office Properties Trust (COPT or the Company) (NYS: OFC) has declared a quarterly dividend of $0.275 per Common Share of beneficial interest for the first quarter 2013, payable on April 15, 2013 to shareholders of record on March 31, 2013.
For the Series H, J, K and L Preferred Shares of beneficial interest of the Company listed below, the Board of Trustees declared dividends for the period commencing January 15, 2013 and ending April 14, 2013, payable on April 15, 2013 to shareholders of record on March 31, 2013.
Series H Cumulative Redeemable Preferred Share
Series J Cumulative Redeemable Preferred Share
Series K Cumulative Redeemable Convertible Preferred Share
Series L Cumulative Preferred Share
COPT is an office REIT that focuses primarily on serving the specialized requirements of U.S. Government agencies and defense contractors, most of whom are engaged in defense information technology and national security-related activities. The Company generally acquires, develops, manages and leases office and data center properties concentrated in large office parks primarily located near knowledge-based government demand drivers and/or in targeted markets or submarkets in the Greater Washington, DC/Baltimore region. As of December 31, 2012, the Company's consolidated portfolio consisted of 208 office properties totaling 18.8million rentable square feet. COPT is an S&P MidCap 400 company and more information can be found at www.copt.com.
This press release may contain "forward-looking" statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company's current expectations, estimates and projections about future events and financial trends affecting the Company.Forward-looking statements can be identified by the use of words such as "may," "will," "should," "could," "believe," "anticipate," "expect," "estimate," "plan" or other comparable terminology.Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate.Accordingly, the Company can give no assurance that these expectations, estimates and projections will be achieved.Future events and actual results may differ materially from those discussed in the forward-looking statements.
Important factors that may affect these expectations, estimates, and projections include, but are not limited to:
general economic and business conditions, which will, among other things, affect office property and data center demand and rents, tenant creditworthiness, interest rates, financing availability and property values;
adverse changes in the real estate markets including, among other things, increased competition with other companies;
governmental actions and initiatives, including risks associated with the impact of a government shutdown or budgetary reductions or impasses, such as a reduction in rental revenues, non-renewal of leases, and/or a curtailment of demand for additional space by strategic tenants;
the Company's ability to sell properties included in its Strategic Reallocation Plan;
the Company's ability to borrow on favorable terms;
risks of real estate acquisition and development activities, including, among other things, risks that development projects may not be completed on schedule, that tenants may not take occupancy or pay rent or that development or operating costs may be greater than anticipated;
risks of investing through joint venture structures, including risks that the Company's joint venture partners may not fulfill their financial obligations as investors or may take actions that are inconsistent with the Company's objectives;
changes in the Company's plans or views of market economic conditions or failure to obtain development rights, any of which could result in recognition of impairment losses;
the Company's ability to satisfy and operate effectively under Federal income tax rules relating to real estate investment trusts and partnerships;
the Company's ability to achieve projected results;
the dilutive effect of issuing additional common shares; and
The Company undertakes no obligation to update or supplement any forward-looking statements. For further information, please refer to the Company's filings with the Securities and Exchange Commission, particularly the section entitled "Risk Factors" in Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2012.
Corporate Office Properties Trust
VP, Investor Relations
Investor Relations Specialist
KEYWORDS: United States North America Maryland
The article COPT Declares First Quarter 2013 Dividends originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.