Post Properties Announces Quarterly Dividends.ATLANTA -- Post Properties, Inc. (NYSE NYSE See: New York Stock Exchange : PPS (Packets Per Second) The measurement of activity in a local area network (LAN). In LANs such as Ethernet, Token Ring and FDDI, as well as the Internet, data is broken up and transmitted in packets (frames), each with a source and destination address. ), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.45 per share for the fourth quarter of 2006. The Company's annual dividend rate is $1.80 per common share. The dividend is payable on January 15, 2007 to all common stock shareholders of record as of January 2, 2007. Post also announced regular quarterly dividends for its 8.5 percent Series A 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. and its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock. On its 8.5 percent Series A Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $1.0625 per share for the fourth quarter. The dividend is payable on January 2, 2007 to all Series A preferred stock shareholders of record as of December 15, 2006. On its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $0.47656 per share for the fourth quarter. The dividend is payable on January 2, 2007 to all Series B preferred stock shareholders of record as of December 15, 2006. Post Properties, founded more than 30 years ago, is one of the largest developers and operators of upscale multifamily communities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company's mission is delivering superior satisfaction and value to its residents, associates and investors, with a vision of being the first choice in quality multifamily living. Operating as a real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ), the Company focuses on developing and managing Post[R] branded resort-style garden and high-density urban apartments. In addition, the Company develops high-quality condominiums and converts existing apartments to for-sale multifamily communities. Post Properties is headquartered in Atlanta, Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. , and has operations in nine markets across the country. Post Properties owns 22,389 apartment homes in 63 communities, including 545 apartment units in two communities held in unconsolidated entities, and 1,031 apartment units in four communities (including the expansion of one community) currently under construction, and 150 apartment units in lease-up. The Company is also developing 230 for-sale condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. homes and is converting apartment homes in four communities initially consisting of 597 units (including 121 units in one community held in an unconsolidated entity) into for-sale condominium homes through a taxable REIT subsidiary. |
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