Gramercy increases dividend.Gramercy gra·mer·cy interj. Archaic Used to express surprise or gratitude. [Middle English gramerci, from Old French grand merci : grand, great; see grand + Capital Corp. announced that the Board of Directors declared de·clare v. de·clared, de·clar·ing, de·clares v.tr. 1. To make known formally or officially. See Synonyms at announce. 2. To state emphatically or authoritatively; affirm. 3. a quarterly dividend of $0.22 per fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. common share for the quarter ending March 31, 2005. This represents a $0.07, or 31.8%, increase from the first dividend of $0.15 declared following the initial public offering. The dividend is payable on April 15, 2005 to shareholders of record at the close of business on March 31, 2005. Bob Foley fo·ley n. 1. A technical process by which sounds are created or altered for use in a film, video, or other electronically produced work. 2. A person who creates or alters sounds using this process. , Chief Financial Officer of Gramercy Capital Corp. commented, "The dividend increase reflects the company's success in achieving its business plan for growth in assets, revenues and earnings. "This increase provides all Gramercy shareholders with a boost in cash distributions even after the increase in shares outstanding resulting from our recent private placement of 5.5 million shares of common stock." |
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