ASR Investments Corp. announces 1995 fourth quarter dividend.TUCSON, Ariz.--(BUSINESS WIRE)--Dec. 4, 1995--ASR Investments Corp. (AMEX AMEX See: American Stock Exchange :ASR (Automatic Speech Recognition) Using voice recognition to replace keypad entry for telephone voice menus. Typically used to speak the digits 0 through 9 insted of keying them, ASR systems may be able to recognize a limited vocabulary. See voice recognition and AVSR. ), an apartment REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). , Monday announced the regular quarterly dividend of $0.50 per share payable on Dec. 28, 1995 to stockholders of record as of Dec. 15, 1995. The dividend brings the total dividend for 1995 to $2.00 per share. As previously announced, ASR expects to earn net income and cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses of over $2.00 per share for 1995 as well as 1996. Thus, ASR plans to maintain the $2.00 per share annual dividend rate for 1996. ASR Investments Corp. is a real estate investment trust that owns and operates apartment communities. It owns 24 apartment communities containing 4,124 units located in Phoenix and Tucson, Albuquerque, N.M. and Houston, including six communities (1,441 units) owned through joint ventures. Its common stock trades on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbol ASR. CONTACT: ASR Investments Corp., Tucson Joseph C. Chan, 520/748-2111 |
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