CRESCENT REAL ESTATE EQUITIES, INC. ANNOUNCES QUARTERLY DIVIDEND AND COMPLETION OF MCI TOWER ACQUISITION.NEW YORK--(BUSINESS WIRE)--July 5, 1995-- Crescent Real Estate Equities, Inc. (NYSE NYSE See: New York Stock Exchange :CEI CEI Competitive Enterprise Institute CEI Conferenza Episcopale Italiana (Italian bishop conference) CEI Central European Initiative CEI Comitato Elettrotecnico Italiano (Italian Electrotechnical Committee) ) today announced that its Board of Directors has declared a cash dividend of $.50 per share for the quarter ending June 30, 1995. The dividend is equivalent to 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 $2.00 per share. The dividend is payable Aug. 1, 1995, to shareholders of record on July 17, 1995. Crescent also announced the completion of its previously announced acquisition of the MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. Tower/Denver Marriott City Center Property located in downtown Denver. Crescent is a fully integrated real estate company which, through the UPREIT operating partnership structure, conducts its business activities and owns and operates a diversified diversified (di·verˑ·s portfolio of real estate assets, including 14 office properties and two retail centers comprising approximately 6.4 million square feet, two hotels aggregating 908 rooms and economic interests in four single family residential land developments. CONTACT: Crescent Real Estate Equities, Inc. Dallas E. Lucas, 212/836-4216 |
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