Dividends increased to $1.27 per share, marking the 13th consecutive year of dividend increases. The company's stock is trading in the $14.80-per-share range on the New York Stock Exchange.
The REIT marked a net earnings loss of $489,000 in 2001, compared with positive net earnings of $12.2 million in Q4 2002. They attributed the 2001 loss to the non-cash charge of $10.4 million for the acquisition of the company's former advisor.
Net earnings available to common stockholders for the year were $44 million or $1.09 per share compared to $28.96 million or 91 cents per share in 2001.
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