Kilroy Realty declares quarterly dividend
LOS ANGELES, December 16, 2021– (COMMERCIAL THREAD) – Kilroy Realty Corporation (NYSE: KRC) announced today that its board of directors has declared a regular quarterly cash dividend of $ 0.52 per common share payable on January 12, 2022 to shareholders of record on December 31, 2021. The dividend is equivalent to an annual rate of $ 2.00 $ 08 per share.
About Kilroy Realty Corporation
Kilroy Realty Corporation (NYSE: KRC, the “Company”, “Kilroy”) is a leading United States owner and developer, with operations in San Diego, Greater Los Angeles, in the San Francisco Bay Area, in the Pacific Northwest and Austin, Texas. The company has achieved global recognition for sustainability, construction operations, innovation and design. As pioneers and innovators in creating a more sustainable real estate industry, the company’s approach to modern business environments helps boost the creativity and productivity of some of the world’s largest technology, entertainment, life sciences and business services.
The Company is a publicly traded real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index with more than seven decades of experience in the development, acquisition and management of office, science and science projects. of life and mixed use.
As of September 30, 2021, Kilroy’s stabilized portfolio totaled approximately 15.2 million square feet of office and life sciences space, 91.5% occupied and 93.9% leased. The company also had over 1,000 residential units in Hollywood and San Diego, with an average quarterly occupancy rate of 79.9%. In addition, the company had six development projects underway with an estimated total investment of $ 2.6 billion, for a total of approximately 3.0 million square feet of office and life science space.
A leader in sustainable development and commitment to corporate social responsibility
The company is listed on the Dow Jones Sustainability World Index and has been recognized by industry organizations around the world. The company’s stabilized portfolio was 78% LEED certified, 44% Fitwel certified, the highest of any non-governmental organization, and 72% of eligible properties were ENERGY STAR certified as of September 30, 2021.
The company has been recognized by GRESB as the listed leader in sustainability in the Americas for eight of the past nine years. Other accolades include the National Association of Real Estate Investment Trust (NAREIT) Leader in the Light Award for eight consecutive years and the ENERGY STAR Partner of the Year for eight years, as well as the highest ENERGY STAR honor of ‘sustained excellence over the past six years. .
A large part of the company’s foundation is its commitment to improving employee growth, satisfaction and well-being while maintaining a diverse and thriving culture. For the second year in a row, the company has been named in the Bloomberg Gender Equality Index, which recognizes companies committed to supporting gender equality through policy development, representation and transparency.
More information is available at http://www.kilroyrealty.com.
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 beyond our control. Therefore, actual performance, results and events may differ materially from those indicated or implied in forward-looking statements, and you should not rely on forward-looking statements as predictions of performance, results or events. future. Many factors could cause actual performance, results and future events to differ materially from those indicated in forward-looking statements, including, but not limited to: global market and general economic conditions and their effect on our liquidity and our financial conditions and those of our tenants; unfavorable economic or real estate conditions in general, and more particularly in the states of California, Texas and Washington; risks associated with our investment in real estate assets, which are illiquid, and trends in the real estate industry; default or non-renewal of leases by tenants; any significant drop in tenant activities; our ability to re-let properties at current market rates or above; costs to comply with government regulations, including environmental remediation; availability of liquidity for debt distribution and servicing and exposure to default risk on debt obligations; increases in interest rates and our ability to manage exposure to interest rates; the availability of financing on attractive terms or not at all, which may have a negative impact on our future interest charges and our ability to pursue development, redevelopment and acquisition opportunities and to refinance existing debt; a decline in the valuations of real estate assets, which may limit our ability to sell assets at attractive prices or obtain or maintain debt financing, and which may result in write-offs or impairment charges; significant competition, which can decrease the occupancy and rental rates of properties; potential losses that might not be covered by insurance; the ability to complete acquisitions and divestitures on the terms announced; the ability to successfully operate the properties acquired, developed and redeveloped; the ability to complete development and redevelopment projects on time and within budgeted amounts; delays or denials in obtaining all required zoning, land use and other rights, government permits and authorizations required for our development and redevelopment properties; increases in planned capital expenditures, leasehold improvements and / or rental costs; defaults on land leases on which some of our properties are located; adverse changes, adoption or implementation of tax laws or other applicable laws, regulations or legislation, as well as the reactions of businesses and consumers to such changes; the risks associated with investing in joint ventures, including our lack of exclusive decision-making authority, our reliance on the financial condition of the venturers and disputes between us and our venturers; environmental uncertainties and risks associated with natural disasters; our ability to maintain our REIT status; and uncertainties about the impact of the COVID-19 pandemic, and the restrictions to prevent its spread, on our business and the economy in general. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could have a material adverse impact on our business and financial performance, see the factors included under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31. 2020 and our other documents filed with the Securities and Exchange Commission. All forward-looking statements are based on information currently available and speak only as of the dates on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes false due to subsequent events, new information or otherwise, except to the extent that we are required to do so in connection with our ongoing requirements under federal securities laws.
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Tyler H. Rose