DENVER, Dec. 21 /PRNewswire-FirstCall/ -- ProLogis , the world's largest owner, manager and developer of distribution facilities, announced today that its Board set a new annualized dividend level for 2007 of $1.84 per common share, or $0.46 per quarter. This represents a 15% increase over 2006. The company has increased its dividend every year since becoming publicly traded in 1994.
Jeff Schwartz, ProLogis chief executive officer, commented: "The growth in our dividend reflects the continued strength of global demand for industrial space and our confidence in the company's ability to capitalize on opportunities in the market. These factors continue to allow us to generate significant earnings and dividend growth."
About ProLogis
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 81 markets across North America, Europe and Asia. The company has $25.3 billion of assets owned, managed and under development, comprising 406.9 million square feet (37.8 million square meters) in 2,406 properties as of September 30, 2006. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs more than 1,200 people worldwide.
