Corporate Office Properties Trust Increases Quarterly Dividend.Business Editors COLUMBIA Columbia, cities, United States Columbia (kəlŭm`bēə). 1 City (1990 pop. 75,883), Howard co., central Md., between Washington, D.C., and Baltimore. , Md.--(BUSINESS WIRE)--Sept. 12, 2000 Corporate Office Properties Trust Corporate Office Properties Trust Inc. (COPT) (NYSE: OFC) is a publicly-traded real estate investment trust (REIT) corporation that specializes in office development, and describes itself as "a fully integrated, self-managed real estate investment trust that focuses on the (NYSE NYSE See: New York Stock Exchange : OFC OFC Office OFC Officer OFC Of Course OFC Oxygen Free Copper OFC Oceania Football Confederation (soccer) OFC Optical Fiber Cable OFC Optical Fiber Communications OFC Optical Fiber Conference ) announced today that its Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. has increased its quarterly dividend to $0.20 per Common Share of beneficial interest for the third quarter 2000. This represents a 5.3% increase over its previous quarterly dividend of $0.19 per share. The dividend will be paid on October 16, 2000 to shareholders of record on September 30, 2000. The Board of Trustees declared a dividend for the quarter ending September 30, 2000 of $0.34375 per Series A Convertible Preferred Share of the Company, payable on October 16, 2000 to shareholders of record on September 30, 2000. The Board of Trustees also declared a dividend for the quarter ending September 30, 2000 of $0.625 per Series B Cumulative Redeemable Redeemable Eligible for redemption under the terms of an indenture. Preferred Share of the Company, payable on October 16, 2000 to shareholders of record on September 30, 2000. "The Company has increased the dividend of its Common Share by 60% since the fourth quarter of 1997," commented Clay W. Hamlin, III, Chief Executive Officer of Corporate Office Properties. "Our portfolio is 98% leased, features a financially stable and growing tenant roster and we are operating in healthy markets with low 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. rates," he added. Company Information Corporate Office Properties Trust is a fully-integrated, self-managed real estate investment trust which focuses on the ownership, development, management and acquisition of suburban office properties located in targeted suburban submarkets in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company presently owns 81 office properties totaling 6.2 million square feet of space. In addition, Corporate Development Services, the Company's development company, provides a wide range of development and construction management services. For more information, visit Corporate Office Properties' website at http://www.copt.com. Forward-Looking Information This press release contains forward-looking information based upon the Company's current best judgement and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with the forward-looking information include the strength of the commercial office real estate market in which the Company operates, competitive market conditions, general economic growth, interest rates and capital market conditions. For further information, please refer to the Company's filings with the Securities and Exchange Commission. |
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