American Land Lease (NYSE:ANL)
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From Jul 2019 to Jul 2024
American Land Lease, Inc. Declares Dividends on Preferred Stock
and a Regular Second Quarter Dividend on Common Stock
CLEARWATER, Fla., July 28 /PRNewswire-FirstCall/ -- American Land Lease, Inc.
(NYSE:ANL) today announced that its Board of Directors declared dividends on
shares of its Preferred Stock and a regular second quarter dividend on its
Common Stock.
Dividends on shares of Preferred Stock are payable on August 31, 2005 to
shareholders of record on August 12, 2005 and will be $0.4844 per share.
Dividends on the Company's Common Stock are payable on August 26, 2005 to
shareholders of record on August 12, 2005 and will be $0.25 per share. The
Company will not offer reinvestment of the second quarter dividend through the
dividend reinvestment plan.
The Board of Directors reviews the dividend policy quarterly. The Company's
dividend is set quarterly and is subject to change or elimination at any time.
The Company's primary financial objective is to maximize long-term,
risk-adjusted returns on investment for stockholders. While the dividend
policy is considered within the context of this objective, maintenance of past
dividend levels is not a primary investment objective of the Company and the
dividend policy is subject to numerous factors, including the Company's
profitability, capital expenditure plans, obligations related to principal
payments and capitalized interest, and the availability of debt and equity
capital at terms deemed attractive by the Company to finance these
expenditures. The Company's net operating loss may be used to offset all or a
portion of its real estate investment trust ("REIT") taxable income, which may
allow the Company to reduce or eliminate its dividends and still maintain its
REIT status.
DATASOURCE: American Land Lease, Inc.
CONTACT: Robert G. Blatz, President, or Shannon E. Smith, Chief
Financial Officer, both of American Land Lease, Inc., +1-727-726-8868
Web site: http://www.americanlandlease.com/