American Land Lease (NYSE:ANL)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more American Land Lease Charts. Click Here for more American Land Lease Charts.](/p.php?pid=staticchart&s=NY%5EANL&p=8&t=15)
American Land Lease, Inc. (NYSE:ANL) today announced that its Board of
Directors declared dividends on shares of its Preferred Stock and a
regular first quarter dividend on its Common Stock.
Dividends on shares of Preferred Stock are payable on May 30, 2008 to
shareholders of record on May 16, 2008 and will be $0.4844 per share.
Dividends on the Company’s Common Stock are
payable on May 30, 2008 to shareholders of record on May 16, 2008 and
will be $0.25 per share.
The Board of Directors reviews the dividend policy quarterly. The
Company's dividends are set quarterly and are 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 common
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 is subject to numerous factors,
including the Company's profitability, capital expenditure plans and
competing uses of capital, 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.
Further, the Board has and will continue to consider the downturn in new
home sales in the context of its quarterly review and dividend decision.
The Company’s net operating loss may be used
to offset all or a portion of its real estate investment (“REIT”)
taxable income, which may allow the Company to reduce or eliminate its
dividends and still maintain its REIT status.
Management will issue its financial results for its first quarter on
Friday, May 9, 2008, before the stock exchange opens. In conjunction
with the announcement of its first quarter results, the Company will
hold a teleconference call on May 9, 2008 at 9:30 a.m. Eastern Daylight
Time to discuss those results.
You are invited to participate in the conference call by dialing,
toll-free, (800) 374-5458 approximately five minutes before the
conference call is scheduled to begin and indicating that you wish to
join the American Land Lease first quarter 2008 results conference call.
Financial information to be discussed on the conference call will be
posted to the Company’s website at www.americanlandlease.com
prior to the call, and may be accessed by clicking on “Learn
More About American Land Lease” and then “Press
Releases.”
If you are unable to participate at the scheduled time, the conference
call will be available for recorded playback from 12:30 p.m. EDT, May 9,
2008 until midnight on May 16, 2008. To access the replay, dial
toll-free, (800) 642-1687 and request information from conference ID
46621215.