Bay Apartment Communities Declares Dividend on Common and Preferred Stock; Announces Annual Meeting Date.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--March 14, 1997--The Board of Directors of Bay Apartment Communities, Inc. (NYSE/PSE:BYA) has declared the company's first quarter 1997 cash dividend on its Common and two series of convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". . The Common Stock quarterly dividend of $.41 per share is payable April 14, 1997 to shareholders of record on March 31, 1997 and is equivalent to an annual dividend of $1.64 per share. The Series A and Series B convertible Preferred Stock quarterly dividend of $.4223 per share is payable May 15, 1997 to shareholders of record on March 31, 1997 and is equivalent to an annual dividend of $1.689 per share. The company also announced that its 1997 annual Shareholders Meeting will take place at 10 a.m. Friday, April 25, 1997. The meeting will be held at Bay's executive offices, 4340 Stevens Creek Stevens Creek is a creek in Santa Clara County, California. The creek flows from the Santa Cruz Mountains into Stevens Creek Reservoir. It continues through Cupertino, Los Altos, and Mountain View before emptying into the San Francisco Bay. Boulevard, San Jose, Calif. Bay Apartment Communities is a fully integrated, multifamily real estate investment trust focused on the acquisition, development, construction, reconstruction and management of high quality apartment home communities. The company currently owns and manages 35 apartment home communities containing 8,978 apartment homes. The company's portfolio consists of 31 apartment home communities in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay and Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern , three communities in Orange County and one in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . CONTACT: Bay Apartment Communities Gilbert M. Meyer, Max L. Gardner or Jeffrey B. Van Horn 408/983-1500 |
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