Excel Announces Second Quarter Dividend.SAN DIEGO--(BUSINESS WIRE)--June 9, 1998--The company announced today that the Board of Directors have declared a second quarter dividend of $0.50 per share on its common stock for shareholders of record on July July: see month. 1, 1998. The dividend will be payable on July 15, 1998. In addition, the Board of Directors declared a quarterly dividend of $0.53125 per share on its 8.5% Series A Cumulative Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". for shareholders of record on July 1, 1998. The dividend will be payable on July 15, 1998. The Board of Directors also declared a quarterly dividend of $0.5390625 per share on its 8 5/8% Series B Cumulative Redeemable Redeemable Eligible for redemption under the terms of an indenture. Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. for shareholders of record on July 1, 1998, payable on July 15, 1998. The company currently owns or manages over 14.1 million square feet of retail space in 27 states.
CONTACT: Excel Realty Trust Inc.
Graham R. Bullick, 619/485-9400 ext. 203
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