Equinix has announced a quarterly dividend increase of 5%, raising its payout to shareholders for the upcoming quarter. This marks the 15th consecutive annual dividend hike since 2011, reflecting the company’s commitment to returning capital as it pursues its FY2029 adjusted funds from operations (AFFO) per share target of over $50. The new dividend yield sits at approximately 2.3%, underscoring the REIT’s blend of income and growth appeal as it navigates uneven execution on its expansion roadmap.

Since 2021, Equinix has added more than 12,000 International Business Exchange (IBX) cabinets globally, with average monthly recurring revenue (MMR) per cabinet bookings rising by 8% year-over-year in the last reported quarter. Management highlighted that AI workloads now represent 18% of new bookings, driving strong demand for high-density power configurations. The company has secured land and power capacity for seven xScale data centers in North America and Europe, which are expected to add 25 MW of capacity by 2027.

In a partnership with Resolute CS, Equinix is integrating the Resolute NEXUS platform into its Customer Portal to automate global last-mile access. This enhancement will allow enterprise customers to design, price and order edge-to-cloud connectivity routes in over 180 countries, tapping into more than 3,200 network providers. By closing the edge connectivity gap, Equinix aims to accelerate deployment times by up to 30% and reduce last-mile sourcing costs by 15%, further strengthening its position in distributed, multicloud environments.

Equinix ended the last quarter with $4.2 billion in liquidity, including undrawn credit facilities and cash on hand, supporting its $6.5 billion data center development backlog. The company plans to fund expansion through a combination of operating cash flow and opportunistic debt issuances, targeting a net leverage ratio of 6.0x to 6.5x. With $1.8 billion of open-site commitments for power and land procurement, Equinix is well-positioned to monetize robust bookings and drive toward its long-term AFFO guidance.