Corporate Office Properties raises quarterly dividend 3.6% to 28.5c per share

Corporate Office Properties Trust announced that its Board of Trustees declared a regular quarterly dividend of $0.285 per common share for the first quarter ending March 31, 2023. This represents an increase of 3.6%, or $0.01 per share, over the most recent quarterly dividend of $0.275. The first quarter 2023 dividend represents an annualized amount of $1.14 per share and is payable on April 17, 2023, to shareholders of record on March 31, 2023. Stephen E. Budorick, COPT’s President & Chief Executive Officer, commented, "This dividend increase is the culmination of over a decade of work to reposition our Company to produce durable cash flows and predictable growth, by deeply concentrating our investments into properties that support National Defense. From 2012 to 2022, we invested nearly $250 million, on average annually, primarily into Defense/IT property developments. Today, 91% of our core portfolio annualized rental revenue comes from our Defense/IT properties.