Colonial Trust Paying 66 Cents-per-Share Dividend

ATLANTA-Continuing a pattern set after its initial public offering in September 1993, Birmingham, AL-based Colonial Properties Trust will be paying common stock shareholders on Nov. 11 a third-quarter dividend of 66 cents per share. The payout to holders on Nov. 4 represents an annualized dividend of $2.64 per share.

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.