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CoreSite Realty Corporation Increases Fourth-Quarter 2016 Common Stock Dividend 51% to $0.80 per Share

December 1, 2016 at 7:00 AM EST
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Declares dividend on Series A Preferred Stock

DENVER--(BUSINESS WIRE)--Dec. 1, 2016-- CoreSite Realty Corporation (NYSE:COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions across the U.S., today announced that its Board of Directors declared a cash dividend of $0.80 per share on common stock and common stock equivalents for the fourth quarter of 2016. The $0.80 per share quarterly dividend represents a $0.27, or 50.9%, increase over the prior quarterly dividend of $0.53 per share.

The increased dividend reflects an annualized dividend rate of $3.20 per share, compared to the prior annualized dividend rate of $2.12 per share. The fourth-quarter common stock dividend will be paid on January 16, 2017, to shareholders of record on December 30, 2016.

“Our six years of growth as a public company, during which we have achieved effective scale in some of the country's largest and fastest growing multi-tenant data center markets, coupled with our strong balance sheet, enables us to adopt a distribution policy consistent with REITs that have historically provided strong, sustainable shareholder returns,” said Paul Szurek, President and Chief Executive Officer of CoreSite. “We are pleased that these conditions allow us to reward our shareholders with this dividend increase.”

“We have raised our dividend each year since our IPO in 2010, correlating to 35% compound annual growth, furthering our commitment to increasing our dividend in tandem with our growth in cash flow and to delivering superior returns on capital for our shareholders,” added Jeff Finnin, Chief Financial Officer of CoreSite.

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 16, 2017, to shareholders of record on December 30, 2016.

About CoreSite

CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,000 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 400+ 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

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