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UNITED DOMINION REALTY TRUST ANNOUNCES DIVIDEND INCREASE

 RICHMOND, Va., March 24 /PRNewswire/ -- The Board of Directors of United Dominion Realty Trust, Inc. (NYSE: UDR), approved an increase in the Trust's quarterly dividend to $.35 per share for a new annual dividend rate of $1.40 per share. This represents an increase of $.02 per share in the quarterly rate and $.08 per share in the annual rate. The new quarterly dividend rate is effective for the first quarter of 1993 and is payable on April 30, 1993, to all shareholders of record as of April 16, 1993. The increase in the annual dividend rate to $1.40 per share makes 1993 the seventeenth consecutive year of higher dividends for the Trust.
 John P. McCann, President and Chief Executive Officer, said, "Our operating results for both the first quarter and all of 1993 are now expected to be stronger than we originally projected. The $.02 per share increase in the quarterly dividend rate reflects the Board of Directors' optimism not only for 1993, but for the next several years."
 United Dominion now owns 14,497 apartment units in the Southeast, from Baltimore/Washington, south to Tampa, Florida. The Trust also owns approximately 2 million square feet of shopping centers and other commercial space. The Trust embarked on a major apartment expansion program in the spring of 1991 which it expects to continue at least through 1993. United Dominion is a self-administered equity real estate investment trust that owns and operates primarily apartments and also shopping centers in the Southeast. The Trust's common stock is traded on the New York Stock Exchange under the symbol "UDR."
 -0- 3/24/93
 /CONTACT: Christine L. Johnson, Investor Relations, United Dominion Realty Trust, 804-780-2691/
 (UDR)


CO: United Dominion Realty Trust ST: Virginia IN: FIN SU: DIV

TW-MH -- DC003 -- 8991 03/24/93 09:28 EST
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Publication:PR Newswire
Date:Mar 24, 1993
Words:303
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