Post Properties Announces Quarterly Dividends and New Stock and Note Repurchase Program
19 Novembre 2014 - 11:01PM
Business Wire
Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate
investment trust, today announced quarterly dividends on its common
stock of $0.40 per share for the fourth quarter of 2014. The
dividend is payable on January 15, 2015 to all common stockholders
of record as of January 2, 2015.
Post also announced regular quarterly dividends on its 8.5
percent Series A Cumulative Redeemable Preferred Stock of $1.0625
per share for the fourth quarter of 2014. The dividend is payable
on December 31, 2014 to all Series A preferred stockholders of
record as of December 15, 2014.
In addition, Post announced that its Board of Directors has
adopted a new stock and note repurchase program under which Post
may repurchase up to an aggregate of $200 million of its common
stock or preferred stock or its operating partnership’s senior
unsecured notes from time to time until December 31, 2017. The new
stock and note repurchase program replaces a substantially similar
program that is currently set to expire at the end of 2014.
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 high density urban and resort-style
garden apartments. Post Properties is headquartered in Atlanta,
Georgia, and has operations in nine markets across the country.
Post Properties has interests in 22,650 apartment units in 58
communities, including 1,471 apartment units in four communities
held in unconsolidated entities and 1,592 apartment units in five
communities currently under development or in lease-up.
Post Properties, Inc.Chris Papa, 404-846-5000
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