Post Properties Announces Quarterly Dividends, Increases Dividend Payout to Common Shareholders & Announces Annual Shareholde...
30 Maggio 2012 - 6:34PM
Business Wire
Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate
investment trust, today announced quarterly dividends on its common
stock of $0.25 per share for the second quarter of 2012. The
dividend is payable on July 13, 2012 to all common shareholders of
record as of June 29, 2012.
Said Dave Stockert, CEO and President, “With ongoing strength in
our business, and a solid financial position, we are pleased to be
able to increase the quarterly rate of dividends to common
shareholders by more than 13 percent. With today’s announcement, we
expect our annual run-rate of common stock dividends to rise to
$1.00 per share.”
Post also announced regular quarterly dividends for its 8.5
percent Series A Cumulative Redeemable Preferred Stock of $1.0625
per share for the second quarter of 2012. The dividend is payable
on July 2, 2012 to all Series A preferred shareholders of record as
of June 15, 2012.
Shareholders elected the Board’s nine nominees, voted to
approve, on an advisory basis, executive compensation, and ratified
the appointment of Deloitte & Touche LLP as the Company’s
independent registered public accountants for 2012.
About Post Properties
Post Properties, founded more than 40 years ago, is a leading
developer and operator of upscale multifamily communities. The
Company’s mission is delivering superior satisfaction and value to
its residents, associates, and investors, with a vision of being
the first choice in quality multifamily living. Operating as a real
estate investment trust (“REIT”), the Company focuses on developing
and managing Post® branded resort-style garden and high density
urban apartments. Post Properties is headquartered in Atlanta,
Georgia, and has operations in ten markets across the country.
Post Properties has interests in 21,622 apartment units in 58
communities, including 1,471 apartment units in four communities
held in unconsolidated entities and 1,810 apartment units in six
communities currently under development. The Company is also
selling luxury for-sale condominium homes in two communities
through a taxable REIT subsidiary.
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