Benzinga | Feb 26, 2021 05:30AM EST

Digital Realty Increased its Quarterly Cash Dividend for Common Stock by 4% to $1.16/ Share

Digital Realty (NYSE:DLR) announced that its board of directors has authorized quarterly cash dividends for common and preferred stock for the first quarter of 2021.

"Our board of directors has approved a 4% increase in our quarterly common stock cash dividend to $1.16 per share, reflecting confidence in the underlying strength of our business as well as the strength of the recurring cash flows that support a steadily growing and well covered dividend, while retaining capital to fund future growth opportunities," commented Andrew P. Power, Chief Financial Officer. "This marks the 16th consecutive year we have grown our dividend, and we are pleased to be among a select group of REITs to have raised the dividend each and every year since our initial public offering in 2004."

Common Stock

Digital Realty's board of directors authorized a cash dividend of $1.16 per share to common stockholders of record as of the close of business on March 15, 2021. The common stock cash dividend will be paid on March 31, 2021.

Series C Cumulative Redeemable Perpetual Preferred Stock

The company's board of directors authorized a cash dividend of $0.414063 per share to holders of record of the company's 6.625% Series C Cumulative Redeemable Perpetual Preferred Stock as of the close of business on March 15, 2021. The Series C Cumulative Redeemable Perpetual Preferred Stock cash dividend will be paid on March 31, 2021.

Series J Cumulative Redeemable Preferred Stock

The company's board of directors authorized a cash dividend of $0.328125 per share to holders of record of the company's 5.250% Series J Cumulative Redeemable Preferred Stock as of the close of business on March 15, 2021. The Series J Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2021.

Series K Cumulative Redeemable Preferred Stock

The company's board of directors authorized a cash dividend of $0.365625 per share to holders of record of the company's 5.850% Series K Cumulative Redeemable Preferred Stock as of the close of business on March 15, 2021. The Series K Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2021.

Series L Cumulative Redeemable Preferred Stock

The company's board of directors authorized a cash dividend of $0.325000 per share to holders of record of the company's 5.200% Series L Cumulative Redeemable Preferred Stock as of the close of business on March 15, 2021. The Series L Cumulative Redeemable Preferred Stock cash dividend will be paid on March 31, 2021.