CUPERTINO, Calif., March 17 /PRNewswire-FirstCall/ -- Mission West Properties, Inc. today announced that its Board of Directors has declared its regular quarterly cash dividend of $0.20 per share on its common stock payable on April 9, 2009 to all common stockholders of record on March 31, 2009. The dividend is equivalent to an annual rate of $0.80 per share, which represents an 11.4 percent annualized yield based on the latest closing price of $7.01 per share.
The Company intends to make regular quarterly distributions to holders of its common stock based upon its cash available for distribution.
The Company also announced today that its 2009 Annual Stockholders' Meeting will be held on Wednesday, May 20, 2009, at 10:00 AM Pacific Time. Stockholders of record of the Company's common stock as of the close of business on April 3, 2009 are entitled to vote at the annual meeting. The meeting will be held at the Company's corporate office, 10050 Bandley Drive, Cupertino, CA 95014.
NOTIFICATION OF CONFERENCE CALL April 16, 2009 at 8:00 AM Pacific Time
Mission West Properties, Inc./Carl E. Berg will have a conference call to provide an update on recent Silicon Valley R&D Market developments and discuss 1st quarter 2009 earnings results. We will end the conference call with a question and answer session. The dial in number for the conference call is:
U.S.A. 800-762-6568
A recording of this conference call will be available from April 16, 2009 at 10:00 AM Pacific Time through April 30, 2009 at 11:59 PM Pacific Time by dialing:
U.S.A. 800-475-6701 International 320-365-3844 Access Code 992766
Mission West Properties, Inc. operates as a self-managed, self-administered and fully integrated REIT engaged in the management, leasing, marketing, development and acquisition of commercial R&D properties, primarily located in the Silicon Valley portion of the San Francisco Bay Area. Currently, the Company manages 111 properties totaling approximately 8.0 million rentable square feet, which includes approximately 854,000 rentable square feet (or 16 buildings) that are in the process of being rezoned for residential development. For additional information, please contact Investor Relations at 408-725-0700.
The matters described herein contain forward-looking statements. Such statements can be identified by the use of forward-looking terminology such as "will," "anticipate," "estimate," "expect," "intends," or similar words. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, the ability to complete acquisitions under the Company's Berg Land Holdings Option Agreement with the Berg Group, changing economic and real estate industry conditions, leasing risk, rollover risk, tenant credit risk, interest rate risk, and other factors detailed in the Company's registration statements, and periodic filings with the Securities & Exchange Commission.
