American Land Lease, Inc. Declares Dividends on Preferred Stock and a Regular Fourth Quarter Dividend on Common Stock and Announces Fourth Quarter 2006 Earnings Conference Call.
Dividends on shares of Preferred Stock are payable on February 28, 2007 to shareholders of record on February 16, 2007 and will be $0.4844 per share. Dividends on the Company's Common Stock are payable on February 28, 2007 to shareholders of record on February 16, 2007 and will be $0.25 per share.
The Board of Directors reviews the dividend policy quarterly. The Company's dividends are set quarterly and are subject to change or elimination at any time. The Company's primary financial objective is to maximize long-term, risk-adjusted returns on investment for common stockholders. While the dividend policy is considered within the context of this objective, maintenance of past dividend levels is not a primary investment objective of the Company and the dividend policy is subject to numerous factors, including the Company's profitability, capital expenditure plans, obligations related to principal payments and capitalized interest, and the availability of debt and equity capital at terms deemed attractive by the Company to finance these expenditures. The Company's net operating loss may be used to offset all or a portion of its real estate investment trust ("REIT") taxable income, which may allow the Company to reduce or eliminate its dividends and still maintain its REIT status.
Management will hold a teleconference call, Monday, February 12, 2007 at 4:00 p.m. Eastern Standard Time to discuss fourth quarter and full year 2006 results. You can participate in the conference call by dialing, toll-free, (800) 374-5458 approximately five minutes before the conference call is scheduled to begin and indicating that you wish to join the American Land Lease fourth quarter 2006 results conference call. If you are unable to participate at the scheduled time, this information will be available for recorded playback from 5:30 p.m. EST, February 12, 2007 until midnight on February 19, 2007. To access the replay, dial toll free, (800) 642-1687 and request information from conference ID 8134369.
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|Date:||Feb 1, 2007|
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