Reckson re-institutes repurchasing.Reckson Associates Realty Corp., one of the largest publicly traded owners, managers and developers of Class A office properties in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Tri-State area There are a number of places in the United States known as tri-state areas where three states or holdings meet at one point (a tripoint), or in proximity to each other. The two most well-known are for the New York and Chicago metropolitan areas. , announced that the company's board of directors has declared a quarterly cash dividend on the company's common stock of $0.4246 per share payable on July 20, 2006 to its stockholders of record as of July 7, 2006. The dividend is based on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. dividend rate of $1.6984 per share. Reckson also announced the company's board of directors has authorized the re-institution of the company's common stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, which had been inactive since March 2003. Pursuant to the authority granted by the board, the company may repurchase up to an aggregate of five million shares of its common stock. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion