ARC Declares Preferred Dividends.DENVER -- Affordable Residential Communities Inc. (NYSE NYSE See: New York Stock Exchange : ARC) today announced that its Board of Directors declared a cash dividend of $0.515625 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. and a cash distribution of $0.39 per unit on the Series C Preferred Operating Partnership Units of Affordable Residential Communities LP. The dividends are payable on January 31, 2007 to shareholders of record on January 15, 2007. About Affordable Residential Communities Inc. Affordable Residential Communities Inc. ("ARC"), excluding discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , currently owns and operates approximately 57,375 homesites located in 276 communities in 24 states. ARC is 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 Englewood, CO. |
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