Acadia Realty Trust Announces First Quarter Dividend and Schedule for Annual Shareholders Meeting

Strategic Insights -

Acadia Realty Trust, a fully integrated and self-managed equity real estate investment trust, has announced its dividend for the first quarter ending March 31, 2006. The Board of Trustees declared a dividend of $0.185 per Common Share and Common Operating Partnership (OP) Unit, payable on April 14, 2006, to holders of record as of March 31, 2006. This dividend includes a distribution to Series A and B Preferred OP Unit holders, based on the number of Common OP Units they would receive if they converted their Preferred OP Units.

The Company has also scheduled its Annual Shareholders Meeting for Monday, May 15, 2006, at 10:00 AM local time, to be held at the offices of Paul, Hastings, Janofsky & Walker, LLP, Park Avenue Tower, 75 East 55th Street, New York, NY 10022. The record date for determination of shareholders entitled to vote is March 31, 2006.

Acadia Realty Trust owns and operates properties totaling 10 million square feet located primarily in the Northeast, Mid-Atlantic, and Midwestern regions of the United States. The company is a self-managed and self-administered equity real estate investment trust focused on the ownership, acquisition, redevelopment, and management of retail properties, including neighborhood and community shopping centers and mixed-use properties with retail components.

Key Takeaways:

  • Acadia Realty Trust has declared a dividend of $0.185 per Common Share and Common Operating Partnership (OP) Unit for the first quarter ending March 31, 2006.
  • The dividend is payable on April 14, 2006, to holders of record as of March 31, 2006.
  • Series A and B Preferred OP Unit holders will receive a distribution based on the number of Common OP Units they would receive if they converted their Preferred OP Units.
  • The Annual Shareholders Meeting is scheduled for Monday, May 15, 2006, at 10:00 AM local time.
  • The record date for determination of shareholders entitled to vote is March 31, 2006.

Statistics:

  • Dividend: $0.185 per Common Share and Common Operating Partnership (OP) Unit
  • Record date for determination of shareholders entitled to vote: March 31, 2006
  • Number of shares under management: 10 million square feet (operated properties)
  • Regions primarily served: Northeast, Mid-Atlantic, and Midwestern United States

Sources:

  • Press Release issued by Acadia Realty Trust on [undated] regarding dividend announcement and Annual Shareholders Meeting schedule.