Key Highlights

  • BXP's $0.70 quarterly Dividend trades ex-date September 30, 2026, payable October 30, unchanged from recent quarters and down from $0.98 in comparable 2025 periods.
  • Second-quarter Revenue increased 3.1% to $895.7 million, with FFO of $1.78 per diluted share, exceeding the midpoint of guidance by $0.08.
  • The company executed approximately 1.8 million square feet of leases during the quarter, increasing total portfolio occupancy by 100 basis points to 88.4%.
  • EPS of $0.43 per diluted share included a $0.10 per share non-cash Impairment charge tied to the anticipated disposition of Sumner Square in Washington, D.C.

Overview

BXP, Inc.'s (NYSE:BXP) $0.70 quarterly dividend yields approximately 4.49% and reflects a reduction from the $0.98 rate paid in the comparable 2025 period, a level the company has now maintained through a quarter in which FFO of $1.78 per diluted share exceeded the midpoint of guidance despite a non-cash impairment charge affecting reported EPS. The current $0.70 quarterly rate equals $2.80 annualized.

Dividend Program and Shareholder Returns

BXP's board declared a regular quarterly Cash Dividend of $0.70 per share of common stock for the period July 1 to September 30, 2026, payable October 30 to shareholders of record September 30. The rate has remained $0.70 per share since being reduced from $0.98 in the comparable 2025 period. The distribution applies equally to BPLP operating-partnership units.

About the Company

BXP is the largest publicly traded developer, owner and manager of premier workplaces in the United States, concentrated in six gateway markets: Boston, Los Angeles, New York, San Francisco, Seattle and Washington, D.C.

Financial Performance Behind the Payout

BXP reported second-quarter revenue of $895.7 million, up 3.1% from $868.5 million a year earlier. Net Income attributable to BXP was $68.6 million, or $0.43 per diluted share, compared with $89.0 million, or $0.56, a year earlier; EPS was $0.02 below the guidance midpoint, primarily due to a $0.10 per diluted share non-cash impairment charge related to the anticipated disposition of Sumner Square, partially offset by higher revenues and lower operating expenses. FFO was $283.4 million, or $1.78 per diluted share, exceeding the guidance midpoint by $0.08, compared with $271.7 million, or $1.71, a year earlier. The company executed 106 leases totaling approximately 1.8 million square feet, with a weighted-average Lease term of 9.9 years, approximately 129% of its historical 10-year second-quarter average.

Leasing Execution Offsetting an Isolated Impairment Charge

The $0.10 per diluted share non-cash impairment tied to Sumner Square is a specifically identified item that reduced reported EPS below the guidance midpoint, while FFO, the REIT's supplemental operating measure that excludes such impairment charges, instead exceeded guidance by $0.08 per share on higher revenues and lower-than-projected operating expenses. Total portfolio occupancy increasing 100 basis points to 88.4%, alongside leasing Volume equal to 129% of the company's historical 10-year average for the quarter, indicates leasing execution outpaced typical seasonal patterns during the period. Notable leases signed for projects under development, including a 148,000-square-foot lease at 343 Madison Avenue bringing that project to 50% pre-leased and a 322,000-square-foot lease with Boston Dynamics at Reservoir Place, represent future revenue commitments distinct from the quarter's reported occupancy and FFO figures.

Outlook

BXP guided third-quarter 2026 FFO to $1.80-$1.82 per diluted share and updated full-year 2026 FFO guidance to $6.99-$7.05 per diluted share. Continued leasing momentum relative to the 129%-of-average pace this quarter, occupancy trends following the 100-basis-point increase, and the effect of the anticipated Sumner Square disposition on future results are the relevant considerations.