Bay Apartment Communities Declares Dividends on Common, Preferred Shares.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)--June 18, 1996--The board of directors of Bay Apartment Communities (NYSE NYSE See: New York Stock Exchange :BYA) has declared second quarter cash dividends on the company's Common and two series of Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The Common Stock quarterly dividend of $.40 per share is payable July 12, 1996, to shareholders of record on June 28, 1996, and is equivalent to an annual dividend of $1.60 per share. The Series A Preferred Stock quarterly dividend of $.412 per share is payable Aug. 15, 1996, to shareholders of record on June 28, 1996, and is equivalent to an annual dividend rate of $1.648 per share. The Series B Preferred Stock, which was issued on May 14, 1996, will receive a dividend of $.24 per share, payable Aug. 15, 1996, to shareholders of record June 28, 1996. The Series B dividend rate is identical to that of Series A, but the actual payment has been prorated to reflect the 53 days the series will have been outstanding during the quarter. Bay Apartment Communities is a fully integrated multifamily real estate investment trust focused on the acquisition, development and management of high quality apartment 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 . The company owns 28 apartment communities containing 7,093 apartment homes. CONTACT: Bay Apartment Communities, San Jose Gilbert M. Meyer or Max Gardner, 408/983-1500 |
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