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Real estate industry

Pennsylvania Real Estate Investment Trust Announces Quarterly Dividends and 117th Consecutive Distribution

Strategic Insights

— 1 min read

Pennsylvania Real Estate Investment Trust (NYSE: PEI) has declared a quarterly cash dividend of $0.57 per common share, marking the company's 117th consecutive distribution since its initial dividend in August 1962. The dividend will be paid on June 15, 2006, to common shareholders of record on June 1, 2006. This remarkable streak is a testament to the company's commitment to its shareholders. PREIT has never omitted or reduced a shareholder dividend throughout its history.

Key Takeaways:

  • PREIT has declared a quarterly cash dividend of $0.57 per common share for the second quarter of 2006.
  • The dividend will be paid on June 15, 2006, to common shareholders of record on June 1, 2006.
  • This marks the company's 117th consecutive distribution, dating back to its initial dividend in August 1962.
  • PREIT's Board of Trustees has also declared a regular quarterly dividend of $1.375 per share on its 11% senior preferred shares.
  • The 11% senior preferred shares are a separate class of stock with a different dividend structure.
  • PREIT has a primary investment focus on retail shopping malls and power centers (approximately 34.5 million square feet) located in the eastern United States.
  • The company's portfolio consists of 52 properties in 13 states, including 39 shopping malls, 12 strip and power centers, and one office property.

Statistics:

  • June 15, 2006: Dividend payment date for common and preferred shareholders.
  • June 1, 2006: Record date for common and preferred shareholders.
  • 117: Number of consecutive dividend distributions paid by PREIT since 1962.
  • $0.57: Quarterly cash dividend payout per common share.
  • $1.375: Regular quarterly dividend payout per 11% senior preferred share.
  • 34.5 million: Square footage of PREIT's retail shopping malls and power centers in the eastern United States.
  • 52: Number of properties in PREIT's current portfolio.
  • 39: Number of shopping malls in PREIT's portfolio.
  • 12: Number of strip and power centers in PREIT's portfolio.
  • 1: Number of office properties in PREIT's portfolio.

Sources:

  • Press Release: Pennsylvania Real Estate Investment Trust Announces Quarterly Dividends and 117th Consecutive Distribution.
  • PREIT's website: www.preit.com.
  • Securities Exchange Act of 1934, Section 21E.
  • U.S. Private Securities Litigation Reform Act of 1995.

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