DuPont Fabros Hikes Its Dividend
June 3rd, 2010 By: Rich Miller
Data center developer DuPont Fabros Technology (DFT) today raised the dividend on its common stock to 12 cents per share for the second quarter of 2010, an increase of 50 percent. “As a result of our continuing strong leasing and financial performance, we are increasing the quarterly common stock dividend in anticipation of increased REIT taxable income and distribution requirements for 2010,” commented Mark L. Wetzel, Chief Financial Officer and Treasurer.
DuPont Fabros (DFT) is one of two real estate investment trusts (REITs) specializing in data center properties, along with Digital Realty Trust (DLR). CoreSite recently announced plans for an IPO that would make it the third data center REIT.
DuPont Fabros recently sold more than $300 million in stock to fund the construction of a data center project in Ashburn, Va. known as ACC6, as well as its first Silicon Valley facility in Santa Clara, Calif. Both projects allow DuPont Fabros to bring new data center online in markets where quality wholesale space is in short supply.
Shares of DuPont Fabros were trading at $25.19, down 36 cents (1.4 percent) in midday trading on the New York Stock Exchange. The dividend will be paid on July 9, 2010 to shareholders of record as of June 29, 2010.