COPT Defense Properties (CDP) 2009年年度报告「NYSE」.pdf

1、2009 Online Annual ReportFinancial SnapshotMessage to ShareholdersInvesting in Our CustomersPositioned for Long-Term Growth1Message to Shareholders2 A Message from Randall M.Griffin3 Shareholders Letter5 A History of Growth6 Business&Growth StrategiesFinancial Snapshot8 A Message from Stephen E.Riff

2、ee9 Financial GraphsInvesting in Our Customers10 A Message from Roger A.Waesche,Jr.11 Government&Defense IT Niche12 Best in Industry ServicePositioned for Long-Term Growth 13 A Message from Wayne H.Lingafelter14 Strategic LocationsA Message from Randall M.GriffinIm Rand Griffin,President and CEO of

3、Corporate Office Properties Trust.As it was for most companies,2009 was a challenging year for COPT.And yet,during this difficult market environment,we had excellent financial results.We increased Funds From Operations(FFO)per share,after adjustments,by 5%over equivalent 2008 FFO.We also delivered a

4、 25%total shareholder return,and,in a year when 75%of our REIT peers cut or suspended their dividend,we were able to raise our dividend by 5.4%and continue to pay in cash.Once again in 2009,we outperformed our peers.For the past 10 years,we were number 2 among all equity REITs,with a total sharehold

5、er return of 693%.We increased our dividend this past year for the 12th year in a row,with a total increase in quarterly dividends over that time period of 214%.The reason for our 12-year record of growth is our three-part portfolio and investment strategy.First,we are focused on a super core of cus

6、tomers a U.S.Government,Defense Information Technology contractor and data center tenancy that accounts for 58%of our Net Operating Income(NOI),with a target of 65%.Second,we have concentrated on core business parks located in growth corridors which will account for 20%of our NOI.And third,we have a