From Earlier: PREIT Increases Quarterly Dividend 6.7% for Common Shares; Declares Initial Dividend for New Preferred Shares
Pennsylvania Real Estate Investment Trust (NYSE: PEI) announced yesterday that its Board of Trustees has declared a quarterly cash dividend of $0.16 per common share, which represents a 6.7% increase over the prior dividend amount. The dividend will be paid on June 15, 2012 to common shareholders of record on June 1, 2012. The June 15, 2012 dividend payment will be PREIT's 141st consecutive distribution since its initial dividend paid in August of 1962.
The Company also announced today that its Board of Trustees has declared the initial dividend on its 8.25% Cumulative Redeemable Perpetual Preferred Shares of $0.3151 per share. The dividend will be paid on June 15, 2012 to holders of record on June 1, 2012, and for this period, represents the dividend accrued from the date of the original issuance of the Preferred Shares, April 20, 2012 to the dividend payment date, June 15, 2012.
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