Declares dividend on Series A Preferred Stock
DENVER--(BUSINESS WIRE)--Dec. 8, 2014-- CoreSite Realty Corporation (NYSE:COR), a premier provider of secure, reliable, high-performance data center solutions, today announced that its Board of Directors declared a cash dividend of $0.42 per share on common stock and common stock equivalents for the fourth quarter of 2014. This increase represents a $0.07, or 20%, increase from the previous quarterly dividend rate of $0.35 per share. The increased dividend reflects an annualized dividend rate of $1.68 per share, compared to the prior annualized dividend rate of $1.40 per share.
The fourth-quarter common stock dividend will be paid on January 15, 2015, to shareholders of record on December 31, 2014.
CoreSite’s Chief Executive Officer, Tom Ray, stated, “We are pleased to announce a 20% increase in our quarterly dividend rate, which represents the fourth consecutive year of double-digit growth in the quarterly dividend rate and 34% compound annual growth since becoming a public company. This increased quarterly dividend rate reflects our focused execution of our business plan, as well as our commitment to generating industry-leading returns for our shareholders.”
CoreSite’s Board of Directors also declared a cash dividend of $0.4531 per share of Series A Cumulative Redeemable Preferred Stock. The preferred share dividend will be paid on January 15, 2015, to shareholders of record on December 31, 2014.
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center solutions across eight key North American markets. More than 800 of the world’s leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads. Our scalable, flexible solutions and 350+ dedicated employees consistently deliver unmatched data center options -- all of which leads to a best-in-class customer experience and lasting relationships. For more information, visit www.CoreSite.com.