THE CHICAGO DOCK AND CANAL TRUST ANNOUNCES
SECOND QUARTER EARNINGS FOR FISCAL YEAR 1992
CHICAGO, Dec. 13 /PRNewswire/ -- The Chicago Dock and Canal Trust (NASDAQ: DOCKS), a publicly held real estate investment trust, today reported net income for its second quarter ended Oct. 31, 1991, of $1,090,000, or $.19 per share. The trust reported net income of $1,250,000, or $.21 per share for the same period in the prior fiscal year.
For the six months ended Oct. 31, 1991, operations resulted in net income of $2,398,000 or $.42 per share. The trust reported net income for the same period in the prior fiscal year of $2,556,000 or $.44 per share.
During the second quarter, the trust declared a dividend of $.08 per share. This dividend compares to $.07 per share for the same period in the prior fiscal year.
The Chicago Dock and Canal Trust is a real estate investment trust, engaged primarily in the business of owning real estate and interests in real estate for investment. The trust, formed in 1962, is successor to The Chicago Dock and Canal Company, founded in 1857 by Chicago's first mayor, William Ogden. The trust's assets include ownership of its interest in the Equitable Building and a substantial portion of the land at Cityfront Center, a major mixed-use development, both in Chicago. The trust also owns Lincoln Garden (a 73,000-square-foot office complex in Tampa, Fla.), Waterplace Park (a 107,000-square-foot office complex in Indianapolis), and One Michigan Avenue (a 144,000-square-foot office building in Lansing, Mich.)
THE CHICAGO DOCK AND CANAL TRUST
Second Quarter Fiscal 1992 Earnings
Quarter ended Year
Oct. 31 1991 1990
Net Income $1,090,000 $1,250,000
Net Income per share $.19 $.21
Oct. 31 1991 1990
Net Income $2,398,000 $2,556,000
Net Income per share $.42 $.44
AS OF AS OF
Shareholders' 10/31/91 10/31/90
Equity $45,887,000 $43,763,000
/CONTACT: David R. Tinkham of Chicago Dock and Canal Trust, 312-467-1870, Mike Aabram or Marti Dee of Daniel J. Edelman, Inc., 312-280-7000 for Chicago Dock and Canal Trust/
(DOCKS) CO: Chicago Dock and Canal Trust ST: Illinois IN: FIN SU: ERN SM -- NY030 -- 2369 12/13/91 12:37 EST