American Land Lease (NYSE:ANL)
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American Land Lease, Inc. Declares Third Quarter Dividend and
Announces Third Quarter Earnings Conference Call
CLEARWATER, Fla., Oct. 28 /PRNewswire-FirstCall/ -- American Land Lease, Inc.
(NYSE:ANL) today announced that its Board of Directors declared a regular third
quarter dividend of $0.25 per share payable on November 24, 2004 to
stockholders of record on November 10, 2004. The Company will not offer
reinvestment of the third 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.
The company will release its third quarter earnings announcement on Friday,
October 29, 2004. Management will hold a teleconference call Wednesday,
November 3, 2004 at 4:00 p.m. Eastern Standard Time to discuss the third
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 third 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, November 3, 2004 until midnight on
November 10, 2004. To access the replay, dial toll free, (800) 642-1687 and
request information from conference ID 1921174.
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/