American Land Lease (NYSE:ANL)
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American Land Lease, Inc. Declares Fourth Quarter Dividend and
Announces Fourth Quarter Earnings Conference Call
CLEARWATER, Fla., Jan. 26 /PRNewswire-FirstCall/ -- American Land Lease, Inc.
(NYSE:ANL) today announced that its Board of Directors declared a regular
fourth quarter dividend of $0.25 per share payable on February 28, 2005 to
stockholders of record on February 14, 2005. The Company will not offer
reinvestment of the fourth 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.
Management will hold a teleconference call, Monday, February 14, 2005 at 4:00
p.m. Eastern Standard Time to discuss fourth quarter 2004 results. You can
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 fourth quarter 2004
results conference call. If you are unable to participate at the scheduled
time, this information will be available for recorded playback from 5:30 p.m.
EST, February 14, 2005 until midnight on February 21, 2005. To access the
replay, dial toll free, (800) 642-1687 and request information from conference
ID 3720446.
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/