Bedford Property Investors raises fourth quarter dividend.LAFAYETTE Lafayette (lä'fēĕt`, lăf'ēĕt`). 1 City (1990 pop. 23,501), Contra Costa co., NW Calif., a residential suburb in the San Francisco–Oakland area; settled 1848, inc. 1968. , Calif.--(BUSINESS WIRE)--Dec. 12, 1994--Bedford Property Investors Inc. (NYSE NYSE See: New York Stock Exchange :BED) today announced its fourth quarter dividend of 9.5 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. . The Board of Directors declared a fourth quarter dividend of 9.5 cents per share, payable Jan. 31, 1995, to stockholders of record Jan. 16, 1995. The dividend declared represents an increase of one-half cent per share or 5.6 percent over the third quarter dividend of 9 cents per share. This is the seventh consecutive quarterly dividend declared by the Board of Directors and the fifth increase. The Board of Directors reinstated a regular quarterly dividend in the second quarter of 1993 (5 cents per share). "1994 has been an outstanding year for the Company," said Peter B. Bedford, chairman and chief executive officer. "Our plan to reposition the Company's portfolio 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 has been very successful. The yields on our acquisitions in the West are excellent. We have been very effective in leasing the vacant space in 1000 Town Center Drive and Dupont Industrial Center, as well as minimizing vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. and costs associated with tenant turnover. We are once again in a position to increase the dividend." Bedford Property Investors Inc., is a self-administered equity real estate investment trust with investments in industrial and suburban office properties concentrated in the Western United States. It is traded on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Pacific Stock Exchanges under the symbol "BED." CONTACT: Bedford Property Investors Inc. Peter B. Bedford or Jay Spangenberg, 510/283-8910 |
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