American Land Lease, Inc. Declares Dividends on Preferred Stock and a Regular First Quarter Dividend on Common Stock and Announc
05 Maggio 2008 - 9:01PM
Business Wire
American Land Lease, Inc. (NYSE:ANL) today announced that its Board
of Directors declared dividends on shares of its Preferred Stock
and a regular first quarter dividend on its Common Stock. Dividends
on shares of Preferred Stock are payable on May 30, 2008 to
shareholders of record on May 16, 2008 and will be $0.4844 per
share. Dividends on the Company�s Common Stock are payable on May
30, 2008 to shareholders of record on May 16, 2008 and will be
$0.25 per share. The Board of Directors reviews the dividend policy
quarterly. The Company's dividends are set quarterly and are
subject to change or elimination at any time. The Company's primary
financial objective is to maximize long-term, risk-adjusted returns
on investment for common stockholders. While the dividend policy is
considered within the context of this objective, maintenance of
past dividend levels is not a primary investment objective of the
Company and is subject to numerous factors, including the Company's
profitability, capital expenditure plans and competing uses of
capital, obligations related to principal payments and capitalized
interest, and the availability of debt and equity capital at terms
deemed attractive by the Company to finance these expenditures.
Further, the Board has and will continue to consider the downturn
in new home sales in the context of its quarterly review and
dividend decision. The Company�s net operating loss may be used to
offset all or a portion of its real estate investment (�REIT�)
taxable income, which may allow the Company to reduce or eliminate
its dividends and still maintain its REIT status. Management will
issue its financial results for its first quarter on Friday, May 9,
2008, before the stock exchange opens. In conjunction with the
announcement of its first quarter results, the Company will hold a
teleconference call on May 9, 2008 at 9:30 a.m. Eastern Daylight
Time to discuss those results. You are invited to participate in
the conference call by dialing, toll-free, (800) 374-5458
approximately five minutes before the conference call is scheduled
to begin and indicating that you wish to join the American Land
Lease first quarter 2008 results conference call. Financial
information to be discussed on the conference call will be posted
to the Company�s website at www.americanlandlease.com prior to the
call, and may be accessed by clicking on �Learn More About American
Land Lease� and then �Press Releases.� If you are unable to
participate at the scheduled time, the conference call will be
available for recorded playback from 12:30 p.m. EDT, May 9, 2008
until midnight on May 16, 2008. To access the replay, dial
toll-free, (800) 642-1687 and request information from conference
ID 46621215.
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