BRE Properties declares quarterly dividend, sets special dividend related to merger.SAN FRANCISCO--(BUSINESS WIRE)--Feb. 26, 1996--BRE Properties Inc. (NYSE NYSE See: New York Stock Exchange : 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 ) today declared a dividend of 63 cents per common share for the fiscal quarter ended Jan. 31, 1996, payble March 28, 1996, to shareholders of record March 8, 1996. The quarterly dividend of 63 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. is equivalent to $2.52 per share on an annual basis. BRE has paid shareholders a cash dividend for 102 consecutive quarters. BRE also declared a special dividend of $.049 per common share payable March 28, 1996, to shareholders of record March 14, 1996. The special dividend is designed to align the time periods of dividend payments for BRE Properties and Real Estate Investment Trust of California (NYSE: RCT), under the definitive merger agreement entered into by the two companies. The special dividend will be paid only if the merger is completed. BRE and REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). of California will hold simultaneous shareholder meetings on March 12, 1996, to gain approval of the merger. BRE Properties is a self-administered equity real estate investment trust (REIT) which primarily owns and operates apartment communities 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 . CONTACT: BRE Properties Inc. Lauren L. Barr, 415/445-6523 |
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