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Colonial Properties Paying Dividends on Preferred Shares

BIRMINGHAM, AL-The Alabama-based REIT, with a total market capitalization of $2.8 billion, will be paying fourth quarter dividends on its Series A and C issues that equate to annualized payments of over $2 per share.

By Alex Finkelstein | Updated on December 04, 2002

BIRMINGHAM, AL-Shareholders of Colonial Properties Trust’s preferred shares are getting a pre-New Year’s gift in dividends that equate to annualized payments of over $2 per share.

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.

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