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ASSOCIATED ESTATES REALTY CORPORATION ANNOUNCES FOURTH QUARTER DIVIDEND

 CLEVELAND, Jan. 4 /PRNewswire/ -- Associated Estates Realty Corporation (NYSE: AEC) today announced a dividend of $0.19 per share for the period from Nov. 18, 1993, the date of the closing of its initial public offering, through the remainder of the quarter ending Dec. 31, 1993. This dividend is based on a $1.60 per share annual dividend pro-rated for the 43-day period. The dividend will be paid on Feb. 1, 1994, to shareholders of record on Jan. 15, 1994. The dividend rate based on the Jan. 3, 1994 closing price of 20-3/4 is 7.71 percent per annum.
 Associated Estates Realty Corporation is a self-administered and self-managed real estate investment trust that is principally in the business of developing, acquiring, rehabilitating, owning, and managing apartments. The company is headquartered in Mayfield Village, Ohio.
 -0- 1/4/94
 /CONTACT: Nan Zieleniec of Associated Estates Realty Corporation, 216-473-8792/
 (AEC)


CO: Associated Estates Realty ST: Ohio IN: FIN SU: DIV

KL-BM -- CL012 -- 9009 01/04/94 15:50 EST
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Publication:PR Newswire
Date:Jan 4, 1994
Words:168
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