CenterPoint Announces Two-for-One Share Split And Second Quarter 2004 Dividend.Business Editors OAK BROOK, Ill.--(BUSINESS WIRE)--March 3, 2004 CenterPoint Properties Trust (NYSE NYSE See: New York Stock Exchange :CNT (Carbon NanoTube) See nanotube. ) today announced that its Board of Directors has approved a two-for-one split of the Company's common shares, subject to shareholder approval of an increase in the number of authorized common shares under the Company's Declaration of Trust from 50 million to 120 million. The Board also declared a dividend of $0.78 per share, payable to common shareholders of record on April 7, 2004 with payment on April 14, 2004. A dividend of $0.9375 per share of its 7.50% Series B Convertible Cumulative Redeemable Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. (NYSE:CNT-pB) will be paid June 30, 2004 to shareholders of record June 16, 2004. The Company will hold its annual shareholder meeting on May 18, 2004. The record date for the annual meeting is March 22, 2004. The increase in the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. will be voted on at this meeting. If the increase is approved, the Company will announce the record and distribution date of the share split at that time. About CenterPoint Properties Trust CenterPoint is a publicly traded real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) and the largest industrial property Company in the 1.3 billion-square-foot Chicago regional market. The Company and its affiliates currently own and operate approximately 36 million square feet and own or control an additional 3,267 acres of land upon which 50.1 million square feet could be developed. The Company is focused on providing unsurpassed tenant satisfaction and adding value to its shareholders through customer driven management, investment, development and redevelopment of warehouse, distribution, light manufacturing buildings and logistics infrastructure. The first major REIT to focus on the industrial property sector, CenterPoint had a total market capitalization Total Market Capitalization The total market value of all of a firm's outstanding securities. of approximately $2.7 billion as of December 31, 2003. Statements in this release, which are not historical, may be deemed forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. under federal securities laws. There can be no assurance that future results will be achieved and actual results could differ materially from forecasts and estimates. Factors that could cause actual results to differ materially are general business and economic conditions, completion of pending acquisitions, competitive market conditions, weather, pricing of debt and equity capital markets and other risks inherent in the real estate business. Such factors are listed in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. or 10-Q. |
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