FACTORY STORES OF AMERICA, INC. DECLARES DIVIDEND.SMITHFIELD, N.C.--(BUSINESS WIRE)--July 5, 1995--Factory Stores of America, Inc. (NYSE NYSE See: New York Stock Exchange :FAC FAC - Functional Array Calculator. An APL-like language, but purely functional and lazy. It allows infinite arrays. ["FAC: A Functional APL Language", H.-C. Tu and A.J. Perlis, IEEE Trans Soft Eng 3(1):36-45 (Jan 1986)]. ) today announced that it has declared a cash dividend of $.51 (fifty-one cents) per share for the period April 1, 1995, to June 30, 1995, on its common stock outstanding. The dividend will be payable on August 7, 1995, to stockholders of record on July 20, 1995. Factory Stores of America, a self-administered real estate investment trust, is the largest factory outlet REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). in terms of numbers of centers and square footage. On June 14, 1995, Factory Stores and Rothschild Realty, Inc. announced an agreement to combine the factory outlet centers owned by The Public Employees Retirement System of Ohio (OPERS OPERS Ohio Public Employees Retirement System OPERS Oklahoma Public Employees Retirement System ) and the management and business operations of Charter Oak Group Ltd., a subsidiary of Rothschild Realty, with Factory Stores of America. The combined company will be comprised of 51 outlet centers in 28 states, including three properties under development for delivery in 1995 and two planned for 1996. The portfolio, including centers expected to be completed in 1995, would total 8.0 million square feet of gross leasable area Gross leasable area (GLA) in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented. . The agreement is subject to the signing of definitive agreements and approval by Factory Stores of America shareholders. CONTACT: Factory Stores of America David A. Hodson, 919/934-9446 |
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