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Stock Market & Financial Investment News

News Breaks
November 20, 2012
16:45 EDTIRMIron Mountain to issue 17M shares of common in connection with special dividend
Iron Mountain announced that it will issue 17.04M new shares of its common stock in connection with the payment of the company's previously announced special dividend of $700M, or approximately $4.06 per share. The Special Dividend represents a significant part of the distribution that would eventually be required should the company successfully convert to a real estate investment trust, or REIT. The Special Dividend is payable on November 21 to stockholders of record as of the close of business on October 22.
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September 17, 2014
07:39 EDTIRMMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
September 16, 2014
07:37 EDTIRMJPMorgan to hold a conference
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September 15, 2014
08:46 EDTIRMIron Mountain declares first quarterly distribution as a REIT of 47.5c per share
The Board of Directors of Iron Mountain Incorporated declared its first quarterly distribution as a Real Estate Investment Trust of 47.5c per share, payable on October 15 to stockholders of record on September 25. The company also declared the remaining special distribution to stockholders of $700M, or approximately $3.62 per share based on the number of shares currently outstanding, required in connection with the company’s conversion to a REIT. The Special Distribution is payable on November 4 to stockholders of record as of the close of business on September 30. In addition, subject to Board approval, the company expects to distribute its second quarterly distribution as a REIT in December, following the issuance of shares associated with the Special Distribution. The company anticipates that the per share amount of the Fourth Quarter Distribution will be approximately the same as the Third Quarter Distribution. Also, the company expects to distribute prior to December 31 a “catch-up” distribution because the company’s distributions through July were declared before the Board had determined if the company could convert to a REIT effective January 1 and were lower than they otherwise would have been if the company had been operating a REIT. The company expects total distributions in 2014, excluding the Special Distribution, to be approximately $400M of cash, in line with its previous range of $400M-$420M.

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