(Source: MARKETWIRE)
Duke Realty Corporation (NYSE: DRE), America's leading industrial and office properties REIT, today announced that its shareholders have approved an amendment to its Third Restated Articles of Incorporation to increase the number of authorized shares of common stock to 400 million from 250 million. A separate proposal to increase the number of authorized shares of preferred stock to ten million from five million failed to receive the necessary shareholder approval.
"The purpose of the increase in common shares is to assure that the company will have sufficient shares available for issuance in connection with possible future equity-based financings, acquisitions and other corporate objectives," said Christie Kelly, Chief Financial Officer. Kelly added: "Although additional preferred shares were not authorized, the company has adequate amounts of authorized preferred shares available to execute future transactions that may utilize preferred equity."
About Duke Realty Corporation
Duke Realty Corporation owns and operates approximately 135 million rentable square feet of industrial and office space in 20 U.S. cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke is available at www.dukerealty.com.
Cautionary Notice Regarding Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical facts, including, among others, statements regarding the company's future financial position, projected financing sources, future transactions with joint venture partners, future dividends, and future performance, are forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of the company, members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should," or similar expressions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that actual results may differ materially from those contemplated by such forward-looking statements. Many of these factors are beyond the companies' abilities to control or predict.
