The late-year rise in earnings helped Colonial's full-year 2001 earnings, which rose 12.1% to $55.6 million, or $2.03 per share. That compares to $49.6 million, or $1.82 per share, for 2000.
The Birmingham-based real estate investment trust also reported it sold $5 million in land and $84 million in assets during the year. The company reported $316.3 million in revenue, a 4.6% increase over 2000 revenue.
Colonial said it will pay a first quarter dividend of 66 cents per share Feb. 8 to shareholders of record Feb. 1. This represents an annualized dividend of $2.64 per share and is a 4.8% increase over the dividend for the year-ago period.
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