US data center wholesaler CoreSite has announced its board of directors declared a cash dividend of $0.35 per share on common stock and common stock equivalents for the fourth quarter of 2013.

This increase represents a $0.08, or 30%, increase from the previous quarterly dividend rate of $0.27 per share.

The increased dividend reflects an annualized dividend rate of $1.40 per share, compared to the prior annualized dividend rate of $1.08 per share.

The fourth-quarter common stock dividend will be paid on 15 January 2014, to shareholders of record on 31 December 2013.

Tom Ray, CEO of CoreSite, said the company “remains committed” to generating superior shareholder returns.

“This announcement marks the third dividend increase since our initial public offering in September 2010,” Ray said.

CoreSite’s board of directors also declared a cash dividend of $0.4531 per share of Series A Cumulative Redeemable Preferred Stock.

The preferred share dividend will be paid on 15 January 2014, to shareholders of record on 31 December 2013.