BOSTON--(BUSINESS WIRE)--Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced today that its Board of Directors declared a regular quarterly cash dividend of $0.75 per share of common stock for the period October 1, 2016 to December 31, 2016 payable on January 30, 2017 to shareholders of record as of the close of business on December 30, 2016. This represents an increase of 15.4%, or $0.10 per share, over the most recent quarterly cash dividend of $0.65 per share.
The Board of Directors also declared a regular quarterly cash dividend for the Company’s 5.25% Series B Cumulative Redeemable Preferred Stock (the “Series B Preferred Stock”). The cash dividend of $0.328125 per depositary share is payable on February 15, 2017 to shareholders of record as of the close of business on February 3, 2017 and covers the period from November 16, 2016 to February 15, 2017. Each depositary share represents 1/100th of a share of Series B Preferred Stock.
Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 47.7 million square feet and consisting of 164 office properties (including 6 properties under construction) five retail properties, four residential properties (including two properties under construction) and one hotel. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC.
For more information about Boston Properties, please visit the Company’s web site at www.bostonproperties.com.