PHILADELPHIA, PA — Brandywine Realty Trust (NYSE: BDN) announced that its Board of Trustees has declared a quarterly cash dividend of $0.08 per common share, payable October 23, 2025, to holders of record as of October 9. The new rate equates to an annualized $0.32 per share, down from the prior annual rate of $0.60.
The dividend cut accompanies Brandywine’s plan to prepay its last secured loan, a $245 million obligation maturing in February 2028. The loan is tied to seven properties totaling 1.4 million square feet. The repayment will be funded through cash, the company’s $600 million unsecured credit line, and other liquidity sources.
Prepayment is expected to result in a one-time fourth quarter earnings charge of $12 million to $14 million, or $0.07 to $0.09 per share. However, it would leave Brandywine’s consolidated operating portfolio entirely unencumbered, a move management says will boost flexibility and cash flow.
“The repayment of our remaining secured loan will fully unencumber our consolidated operating portfolio,” said Jerry Sweeney, president and CEO of Brandywine Realty Trust. “This prepayment…is expected to increase our unencumbered annual cash flow by approximately $45 million while also providing additional asset-level leasing flexibility.”
Sweeney added that the dividend reduction, from $0.15 to $0.08 per quarter, is intended to allow the company to retain about $50 million in cash annually. The retained funds will be directed toward portfolio investment, recapitalization of development projects, and strengthening liquidity.
Brandywine will report third-quarter earnings after market close on October 22 and hold a conference call the following morning at 9:00 a.m. ET. A webcast will be available on the company’s investor relations website.
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