COLONIAL PROPERTIES TRUST INCREASES DIVIDEND.ORLANDO, Fla.--(BUSINESS WIRE)--Jan. 27, 1995--Colonial Properties Trust (NYSE NYSE See: New York Stock Exchange :CLP), "Colonial", announced today its Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. has approved a dividend of $.475 per share, payable on February 13, 1995 to shareholders of record as of February 6, 1995. This dividend represents 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. dividend of $1.90 per share and is an $.18 increase (10.5%) over the dividend rate for 1994, Colonial's first full year of operations as a real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ). This is Colonial's second dividend increase since their initial public offering (IPO) in September 1993. Colonial's combined dividend increases to-date represent an increase of $.20 (11.8%) over their anticipated dividend rate of $1.70, as presented in their IPO prospectus. Colonial Properties Trust is a real estate investment trust that, through its subsidiaries, owns and manages a portfolio of 55 retail, multifamily, and office properties located in Alabama, Florida, and Georgia and performs development, acquisition, management, leasing, and brokerage services for properties owned by third parties. The Company's common shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "CLP". CONTACT: Colonial Properties Trust Douglas B. Nunnelley, 407/677-1112 |
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