8. Stockholders’ Equity / Partners’ Capital

As of March 31, 2019, Boston Properties, Inc. had 154,515,486 shares of Common Stock outstanding.

As of March 31, 2019, Boston Properties, Inc. owned 1,725,484 general partnership units and 152,790,002 limited partnership units of 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, 2019, Boston Properties, Inc. issued 14,129 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 in 2019 and occurred during the first quarter of 2018:



Record Date	Payment Date	Dividend (Per Share)		Distribution (Per Unit)
March 29, 2019	April 30, 2019		$0.95		$0.95
December 31, 2018	January 30, 2019		$0.95		$0.95

March 29, 2018	April 30, 2018		$0.80		$0.80
December 31, 2017	January 30, 2018		$0.80		$0.80

Preferred Stock

As of March 31, 2019, 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 during 2019 and occurred during the first quarter of 2018:



Record Date	Payment Date	Dividend (Per Share)
May 3, 2019	May 15, 2019		$32.8125
February 4, 2019	February 15, 2019		$32.8125

May 4, 2018	May 15, 2018		$32.8125
February 2, 2018	February 15, 2018		$32.8125