ARC Declares Common Share and Preferred Stock Dividends.DENVER -- Affordable Residential Communities Inc. (NYSE NYSE See: New York Stock Exchange : ARC) today announced that its Board of Directors declared a quarterly dividend of $0.3125 per share of common stock. The dividend is payable on October 15, 2004, to shareholders of record on September 30, 2004. The Board of Directors also declared a dividend of $0.5156 on each share of its Series A Cumulative Redeemable Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The dividend is payable on October 30, 2004, to shareholders of record on October 15, 2004. Affordable Residential Communities Inc. currently owns and operates approximately 71,000 homesites located in 343 communities in 31 states. ARC is a fully integrated, self-administered, self-managed equity real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) focused on the acquisition, renovation, repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. and operation of primarily all-age manufactured home communities with headquarters in Denver, CO. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. contained in this news release are subject to certain risks and uncertainties including, but not limited to, general risks affecting the real estate industry; the Company's ability to maintain or increase rental rates and occupancy with respect to properties currently owned; the Company's assumptions on rental home and home sales activity; completion of pending acquisitions, if any, and timing with respect thereto; the Company's growth and expansion into new markets or to integrate acquisitions successfully; the effect of interest rates as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any intention or obligation to provide public updates, revisions or amendments to any forward-looking statements that become untrue un·true adj. un·tru·er, un·tru·est 1. Contrary to fact; false. 2. Deviating from a standard; not straight, even, level, or exact. 3. Disloyal; unfaithful. because of subsequent events. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion