BRE Properties, Inc. declares quarterly dividend of $.33 per common share.SAN FRANCISCO--(BUSINESS WIRE)--Aug. 26, 1996--The Board of Directors of BRE (Business Rules Engine) Software that automates policies and procedures within an organization, whether legal, internal or operational. The use of a rules engine (BRE) requires placing the company rules in an external repository that can be easily reviewed rather than Properties, Inc. (NYSE NYSE See: New York Stock Exchange :BRE) today declared a regular quarterly dividend of $.33 per common share, payable Sept. 26, 1996, to shareholders of record Sept. 6, 1996. The quarterly dividend of $.33 per share is equivalent to $1.32 per share on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis. Frank C. McDowell Mc·Dow·ell , Ephraim 1771-1830. American surgeon who performed (1809) the first recorded ovariotomy. , president and chief executive officer of BRE, stated, "We are pleased to extend BRE's record of consecutive cash dividends paid to shareholders to 104 quarters. This also is the first dividend declared since BRE completed a two-for-one stock split in June, increasing the number of common shares outstanding to 32.7 million. "The current quarterly dividend is 4.8% above the dividend level for the comparable quarter a year ago." BRE Properties is a self-administered, self-managed and fully integrated equity real estate investment trust focusing on multifamily properties in the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . BRE owns 50 apartment communities totaling 10,642 units in nine major markets in California, Arizona, Washington, Oregon and Nevada. CONTACT: BRE Properties, Inc. Lauren L. Barr, 415/445-6523 |
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