BRE Properties Declares Fourth Quarter Dividend of $0.345 Per Common Share; San Francisco Based REIT Extends Dividend Payments to 109 Consecutive Quarters.SAN FRANCISCO--(BUSINESS WIRE)--Nov. 21, 1997--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 $0.345 per common share, payable Dec. 26, 1997, to shareholders of record Dec. 8, 1997. The quarterly dividend of $0.345 per share is equivalent to $1.38 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, president and chief executive officer of BRE, stated: "We are pleased to continue the consecutive cash dividends paid to our fellow shareholders since the company's founding in 1970. This dividend represents the 109th such payment and is 4.5% above the level for the comparable quarter a year ago." BRE Properties Inc., headquartered in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , is a self-administered, self-managed and fully integrated real estate investment trust focusing on the acquisition, development, ownership and management of 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 . Following its recent acquisition of Trammell Crow F. Trammell Crow (born June 11, 1914, in Dallas, Texas) is an American property developer who created several famous projects, including Dallas Market Center, Peachtree Center (Atlanta, Georgia), and San Francisco's Embarcadero Center. Residential's assets and operations in the Western U.S., BRE now owns and operates 73 apartment communities totaling 18,329 units in California, Arizona, Washington, Oregon, Nevada, New Mexico, and Utah. The company currently has eight other apartment communities under development totaling 2,445 units and will shortly expand into Colorado. Additional information about BRE can be found on the company's web site (http://breproperties.com). CONTACT: BRE Properties, Inc. Lauren L. Barr, 415/445-6523 |
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