Equinix Declares Special Dividend On REIT Conversion

By | September 29, 2015

Scalper1 News

Equinix (EQIX) late Monday declared a special dividend of $627 million, with 20% in cash, related to its conversion to a real estate investment trust on Jan. 1. Converting to a REIT provided tax benefits for the data center operator. Equinix stock was flat, near 270, in morning trading in the stock market today in low volume, but shares are up 19% this year. “The $627 million special distribution ($10.95 per share) is near the midpoint of the Scalper1 News

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