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| Dave Stockert |
ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE:
PPS), an Atlanta-based real estate investment trust, today announced that at a
meeting earlier today, the Board declared quarterly dividends on its common
stock of $0.40 per share for the second quarter of 2014.
The dividend is
payable on July 15, 2014, to all common shareholders of record as of June 30,
2014.
Said Dave Stockert, CEO and President, “We are
pleased to raise the dividend to common shareholders, to reflect the strength
of our business, and consistent with our capital allocation plans. With today’s
announcement, we expect our annualized rate of common dividends to increase to
$1.60 per share.”
Post also announced regular quarterly dividends for its 8.5
percent Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for
the second quarter of 2014. The dividend is payable on June 30, 2014, to all
Series A preferred shareholders of record as of June 16, 2014.
The Company also announced that at its Annual Meeting held
earlier today, shareholders elected the Board’s eight nominees, voted to
approve, on an advisory basis, executive compensation, voted to adopt the 2015
non-qualified employee stock purchase plan, and ratified the appointment of
Deloitte & Touche LLP as the Company’s independent registered public
accountants for 2014.
For a complete copy of the company’s news release, please
contact:
Post Properties, Inc.
Chris Papa, 404-846-5000
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