The report says that total FFO for third quarter 2002 has jumped 11.1% to $25.8 million, while the FFO per share has increased 10.3% to $0.75. Meanwhile, the total FDA has risen 12.3% to $22.6 million and the FDA per share has jumped 10.2% to $0.65.
Separately, Pan Pacific's Board of Directors has declared a fourth quarter dividend of $0.475 per share, which is equivalent to $1.90 per share on an annualized basis. The dividend is payable on Dec. 13, 2002 to stockholders of record on Nov. 29, 2002.
Pan Pacific, which had a 97.1% portfolio occupancy rate as of September 30, 2002, has acquired $107.7-million worth of grocery-anchored shopping centers year-to-date. The company has also shed non-core assets worth a total of $56.3 million year-to-date.
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