Excel announces quarterly dividend for common and Series A preferred stock.SAN DIEGO--(BUSINESS WIRE)--March 18, 1997--Excel Realty Trust Inc. (NYSE NYSE See: New York Stock Exchange :XEL XEL New Carlisle, Quebec, Canada - New Carlisle / via Rail Service (Airport Code) ) Tuesday announced the board of directors have declared a quarterly dividend of 46 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. on its common stock for shareholders of record April 1, 1997. The dividend will be payable on April 15, 1997. In addition, the board of directors declared the first quarterly dividend on its 8.5 percent 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 April 1, 1997, payable on April 15, 1997. The convertible preferred offering, which closed on Feb. 5, 1997, will receive a pro-rata dividend of 32 cents per share. The company also announced May 2, 1997, as the date for its 1997 annual meeting of the stockholders. The record date will be March 28, 1997, for the voting of common stock at the annual meeting. Excel Realty Trust currently owns and manages neighborhood and community shopping centers, anchored by major retail tenants or single tenant properties leased to major retail tenants. The company currently has more than 8.2 million square feet under management. CONTACT: Excel Realty Trust Inc., San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Graham R. Bullick, 619/485-9400, ext. 203 |
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