Prologis (PLD) announces 25% dividend increase.

Prologis (PLD) announced today that its board has approved a plan to increase the 2022 annual distribution rate by 25% to $3.16/share, effective with the first quarter.  The first quarter dividend of $0.79/share is payable on March 31, 2022 to shareholders of record on March 18, 2022.

"The increase in our common stock dividend builds on our track record of sector-leading growth and underscores our confidence in the future," said Thomas S. Olinger, chief financial officer, Prologis. "It is underpinned by strong organic growth from same store NOI and Strategic Capital earnings, as well as our unique ability to source profitable deployment opportunities globally — all of which position us for an extended period of durable earnings growth."

Founded in 1983, Prologis is the world's largest owner/developer of industrial real estate properties with a total managed portfolio aggregating 907 million square feet in 19 countries. PLD is a member of the S&P 500 and has a total market capitalization of approximately $149 billion.