Urstadt Biddle Properties Raises Qtr. Dividend from $0.2475 to $0.25/Share
At their regular meeting yesterday, the Directors of Urstadt Biddle Properties Inc. (NYSE: UBA) (NYSE: UBP) approved an increase in the quarterly dividend rate declared for its Class A Common stock. The quarterly dividend rate declared for the Class A Common stock was increased to $0.25 per share, which represents an annualized increase of $0.01 per share for the Class A Common shares. In consideration of the company's charter requirement that the Class A Common dividend rate be at least 10% higher than the Common dividend rate, the Board of Directors declared a quarterly dividend for the Common shares of $0.225 per share, unchanged from the prior year. The $0.01 increase on the Class A Common stock dividend represents the nineteenth consecutive year that the company has increased total dividends to its shareholders. The Class A Common and Common dividends are payable January 18, 2013 to stockholders of record on January 4, 2013. The dividends declared represent the 172nd consecutive quarterly dividend on common shares declared since the Company began operating in 1969.
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