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ProLogis, the world’s largest warehouse owner, will cut its quarterly dividend, offer stock and pursue more land sales as it seeks to reduce debt.
ProLogis will pay a dividend of 11.25 cents a share in the fourth quarter, down from 15 cents, as costs from a debt repurchase and other expenses reduce profit, the Denver- based company said in a statement Monday. It also plans to sell 80 million shares to pay down borrowings.
