The Birmingham, AL-based REIT will be paying fourth-quarter dividends of 55 cents per share on its 8.75% Series A Cumulative Redeemable Preferred Shares and 58 cents per share on its 9.25% Series C issue.
The Series A dividend represents an annualized dividend of $2.19 per share; the Series C issue, $2.31 per share. The dividends will be paid Dec. 31 to holders of record on Dec. 17, the company says in a prepared statement.
With a total market capitalization of $2.8 billion, Colonial is one of the largest diversified REITs in the United States. The company operates 14,500 apartment units; 5.2 million sf of office; 15.3 million sf of retail in 17 malls and 27 non-mall properties.
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