Rouse board approves dividend, adds two members.COLUMBIA, Md.--(BUSINESS WIRE)--Sept. 26, 1996--At its meeting Thursday, the board of directors of The Rouse Company of Columbia, approved the regular quarterly common stock cash dividend of 22 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The dividend will be payable on Dec. 23, 1996, to shareholders of record on Dec. 16, 1996. The Rouse Company also announced Thursday that two new members have joined the company's board of directors, William R. Lummis and Dr. Gerard J.M. Vlak. Lummis became a director in accordance with action taken by the board of directors at its Feb. 22, 1996 meeting. The board's action became effective on June 12, 1996 upon completion of the acquisition by merger of The Hughes Corporation by The Rouse Company. Lummis, 67, earned his bachelor of arts and bachelor of law degrees from the University of Texas in Austin, and then joined the law firm now known as Andrews & Kurth, where he became a senior partner and member of the management committee. In 1976, after the death of Howard R. Hughes Jr., Lummis left the law firm and moved to Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. to become principal administrator of the Estate of Hughes and chairman and/or chief executive officer of the principal Hughes Estate businesses. In 1990, he retired from active management of the remaining Hughes Estate Companies and returned to Houston, continuing to serve as chairman of the board of the various Hughes enterprises until June, 1996 when they were acquired by The Rouse Company. Lummis also serves as a Trustee of The Howard Hughes Medical Institute Howard Hughes Medical Institute, (HHMI), nonprofit medical research organization founded in 1953 by Howard Hughes and largly funded from proceeds of the 1984–85 sale of Hughes Aircraft. Headquartered in Chevy Chase, Md. and the University of Las Vegas Foundation, and is a member of the Investment Advisory Committee of The Brown Foundation. He is a present or past member of numerous professional organizations and social clubs and is a former director of Nevada Power Co., Republic Airlines, Texas American Bancshares and Texas American Bank/Galleria in Houston. Vlak, 62, was elected to The Rouse Company board of directors at the meeting today. Vlak is an adviser to the ABP 1. (networking) ABP - Alternating bit protocol. 2. ABP - Microsoft Address Book Provider. Dutch General Pension Fund in Heerlen, the Netherlands, which is a shareholder of the company. He holds masters and doctorate degrees in Economics from the University of Tilburg in the Netherlands, and is a graduate of the Advanced Management Program of Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . Vlak was professor of Monetary Economics at Erasmus University Erasmus University Rotterdam is a university in the Netherlands, located in Rotterdam. The university is named after Desiderius Erasmus Roterodamus, a 15th century humanist and theologian. in Rotterdam from 1967 through 1970 and a part-time professor of Monetary Economics at VEH VEH Vehicle VEH Vectored Exception Handler VEH vehicular cargo (US DoD) VEH Vascular Endothelial Hyperplasia Economics University in Brussels, Belgium from 1970 through 1980 and in 1983. During the 1970s and 1980s, Vlak also performed a variety of roles in international banking, including serving as a member of the executive board of Rabobank Nederland in Utrecht, the Netherlands. He set up and managed the U.S. activities of Rabobank and was responsible for managing the bank's corporate and international banking departments. He also managed the U.S. and Canadian operations of Amsterdam-Rotterdam Bank, N.V. from 1988-1990 and was then named executive vice president and chief financial officer of ABN-AMRO Bank U.S.A. in 1991. Vlak was formerly a board member of Latin American Agribusiness agribusiness Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts. Development Corp., F.M.O Finance Company for Developing Countries, London & Continental Bankers Ltd., Unico-banking Group Europe, and the Association of European Cooperative Banks Cooperative bank may refer to:
He is currently a member of the board of ICON International Inc. the Netherland-American Foundation and Julius Bear Investment Management, all of 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 . He currently resides in Stamford, Conneticut. CONTACT: The Rouse Company David L. Tripp, vice president and director, Investor Relations, 410/992-6546 |
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