Brandywine Realty cuts dividend by 21%

Brandywine Realty Trust (NYSE:BDN) announced today that its Board of Trustees has declared a quarterly cash dividend of $0.15 per common share and OP Unit payable on October 18, 2023 to holders of record on October 4, 2023. The quarterly dividend is equivalent to an annual rate of $0.60 per share.

“Our 2023 business plan remains on target with a continuation of strong leasing and operating metrics,” stated Gerard H. Sweeney, President and Chief Executive Officer for Brandywine Realty Trust. “However, current capital market conditions are such that further enhancing our already strong liquidity position makes sense.  As such, we are adjusting our quarterly dividend rate to $0.15 per share that represents the minimum dividend payout level we expect to maintain for the foreseeable future.”

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