Crescent Real Estate Announces Fourth Quarter Common and Preferred Share Dividends.Business Editors FORT WORTH, Texas--(BUSINESS WIRE)--Jan. 15, 2001 Crescent Real Estate Equities Company Crescent Real Estate Equities Co. (NYSE: CEI) is a Fort Worth, Texas-based real estate investor with holdings mainly in office and hotel properties, including several landmark buildings in the southern United States. (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 Trust Managers has declared cash dividends of $0.55 per share for the Company's Common Shares and $0.422 per share for the Company's 6 3/4% Series A Convertible 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. for the quarter ended December 31, 2000. The dividends are equivalent to 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. dividends of $2.20 per share and $1.69 per share for common and preferred, respectively. The dividends are both payable February 15, 2001, to shareholders of record on January 31, 2001. ABOUT THE COMPANY Crescent, one of the country's largest real estate investment trusts, owns and manages, through its subsidiaries, a diversified portfolio consisting of Class A office properties, luxury resorts and spas, and residential developments. Its mission is to expand the dimensions of business for its customers and maximize value to its shareholders by distinguishing itself as the undisputed leader in each of its businesses. Crescent will accomplish these goals by providing exceptional customer service and asset quality and by executing a disciplined real estate investment and operating strategy that focuses on market leadership, innovative growth opportunities, and outstanding customer, employee and partner alliances. |
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