BRE Properties Declares Fourth Quarter Dividend of $0.36 Per Common Share; Western-Focused REIT Extends Consecutive Dividend Payments to 113 Quarters.SAN FRANCISCO--(BUSINESS WIRE)--Nov. 16, 1998--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 $0.36 per common share, payable December 24, 1998 to shareholders of record November 27, 1998. The quarterly dividend of $0.36 per share is equivalent to $1.44 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. The dividend represents a yield of approximately 6.0% on BRE's most recent closing price of $24.19 per share. Frank C. McDowell, president and chief executive officer of BRE, said, "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 113th such payment and is 4.3% above the level for the comparable quarter a year ago." BRE Properties, Inc. is a self-administered, self-managed and fully integrated real estate investment trust, focusing on the development, acquisition, 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 . BRE owns and operates 80 apartment communities totaling 20,375 units in California, Arizona, Washington, Oregon, Nevada, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , Utah and Colorado. The company currently has 11 other apartment communities under development totaling 3,022 units. Additional information about BRE can be found on the company's web site (http://breproperties.com). |
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