The common stock dividend follows Colonial's dividend payment on Sept. 30 to preferred shareholders of 55 cents per share. The dividend on the company's 8.75% Series A preferred shares represents an annualized dividend of $2.19 per share.
The dividend payouts come as the REIT is experiencing one of its most successful development, acquisition and fiscal periods. For the second quarter, Colonial reported earnings per share increased 183% to 99 cents from 35 cents for the same 2001 period.
Earnings for the second quarter rose 199% to $21.8 million from $7.3 million in second quarter 2001. Year-to-date earnings per share increased 158% to $1.60 from 62 cents for the same 2001 period. Third-quarter earnings are being prepared.
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