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Stockholders' Equity / Partners' Capital | 3 Months Ended
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Mar. 31, 2020
Equity [Abstract] |
Stockholders' Equity / Partners' Capital | 8. Stockholders’ Equity / Partners’ Capital Boston Properties, Inc. As of March 31, 2020, Boston Properties, Inc. had 155,314,555 shares of Common Stock outstanding. As of March 31, 2020, Boston Properties, Inc. owned 1,730,797 general partnership units and 153,583,758 limited partnership units in Boston Properties Limited Partnership. On June 2, 2017, Boston Properties, Inc. renewed its “at the market” (“ATM”) stock offering program through which it may sell from time to time up to an aggregate of $600.0 million of its common stock through sales agents over a three-year period. This program replaced the Company’s prior $600.0 million ATM stock offering program that was scheduled to expire on June 3, 2017. The Company intends to use the net proceeds from any offering for general business purposes, which may include investment opportunities and debt reduction. No shares of common stock have been issued under this ATM stock offering program. During the three months ended March 31, 2020, Boston Properties, Inc. issued 43,792 shares of Common Stock upon the exercise of options to purchase Common Stock. During the three months ended March 31, 2020, Boston Properties, Inc. issued 461,856 shares of Common Stock, in connection with the redemption of an equal number of redeemable OP Units from limited partners. The following table presents Boston Properties, Inc.’s dividends per share and Boston Properties Limited Partnership’s distributions per OP Unit and LTIP Unit paid or declared in 2020 and during the three months ended March 31, 2019:
Record Date |  | Payment Date |  | Dividend (Per Share) |  |  | Distribution (Per Unit) |
March 31, 2020 |  | April 30, 2020 |  |  | $0.98 |  |  |  | $0.98 |
December 31, 2019 |  | January 30, 2020 |  |  | $0.98 |  |  |  | $0.98 |
March 29, 2019 |  | April 30, 2019 |  |  | $0.95 |  |  |  | $0.95 |
December 31, 2018 |  | January 30, 2019 |  |  | $0.95 |  |  |  | $0.95 |
Preferred Stock As of March 31, 2020, Boston Properties, Inc. had 80,000 shares (8,000,000 depositary shares each representing 1/100th of a share) outstanding of its 5.25% Series B Cumulative Redeemable Preferred Stock with a liquidation preference of $2,500.00 per share ($25.00 per depositary share). Boston Properties, Inc. pays cumulative cash dividends on the Series B Preferred Stock at a rate of 5.25% per annum of the $2,500.00 liquidation preference per share. Boston Properties, Inc. did not have the right to redeem the Series B Preferred Stock prior to March 27, 2018, except in certain circumstances relating to the preservation of Boston Properties, Inc.’s REIT status. On and after March 27, 2018, Boston Properties, Inc., at its option, may redeem the Series B Preferred Stock for a cash redemption price of $2,500.00 per share ($25.00 per depositary share), plus all accrued and unpaid dividends. The Series B Preferred Stock is not redeemable by the holders, has no maturity date and is not convertible into any other security of Boston Properties, Inc. or its affiliates. The following table presents Boston Properties Inc.’s dividends per share on its outstanding Series B Preferred Stock paid or declared during 2020 and during the three months ended March 31, 2019:
Record Date |  | Payment Date |  | Dividend (Per Share) |
May 1, 2020 |  | May 15, 2020 |  |  | $32.8125 |
February 4, 2020 |  | February 18, 2020 |  |  | $32.8125 |
May 3, 2019 |  | May 15, 2019 |  |  | $32.8125 |
February 4, 2019 |  | February 15, 2019 |  |  | $32.8125 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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