ASR Investments Corp. announces second quarter dividend.TUCSON Tucson (t  `sŏn'), city (1990 pop. 405,390), seat of Pima co., SE Ariz.; inc. 1877. , Ariz.--(BUSINESS WIRE)--June 1, 1995--ASR Investments Corp. (AMEX AMEXSee: 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. ) Thursday announced that the board of directors declared a $.10 quarterly dividend payable on June 30, 1995, to stockholders of record on June 15, 1995. The company recently announced that it has received stockholder approval of a 1 for 5 "reverse stock split" which will become effective in early July of 1995. The company intends to change the regular quarterly dividend rate to $.50 per share beginning with the third quarter to reflect the new shares. The company will notify stockholders of the dates and procedures for exchanging existing stock for new certificates well in advance. ASR Investments Corp. is a real estate investment trust that owns and operates apartment communities. It owns 23 apartment communities in the southwest United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. totaling 3,774 units including 5 communities 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 Mary Swanton, 520/748-2111 |
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