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HOLLY RESIDENTIAL PROPERTIES INC. DECLARES FIRST DIVIDEND

 TACOMA, Wash., June 21 /PRNewswire/ -- The board of directors of Holly Residential Properties Inc. (NYSE: HLY) today declared the company's first dividend.
 The dividend is 6 cents per share and payable on July 12 to shareholders of record on June 30. As stated in its offering prospectus, Holly Residential Properties intends to pay a regular quarterly dividend to shareholders. The first dividend is for the 12-day period beginning on the closing of the offering and ending June 30.
 The company completed its initial public offering of 6.6 million shares of common stock on June 18.
 Holly Residential Properties is a fully integrated, self- administered and self-managed real estate investment trust (REIT) that owns or holds interests in, and manages, 31 multifamily residential properties in the Seattle-Tacoma area.
 -0- 6/21/93
 /CONTACT: Daniel M. Kelley of Holly Residential Properties, 206-627-5800; or Susan McAllister of Corporate Communications, 206-728-1778, for Holly Residential Properties/
 (HLY)


CO: Holly Residential Properties ST: Washington IN: SU: DIV

SW-AL -- SE006 -- 4115 06/21/93 15:10 EDT
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Publication:PR Newswire
Date:Jun 21, 1993
Words:171
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