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Article: Archstone-Smith Sets 2003 Common Share Dividend Level.
- Article from:
- PR Newswire
- Article date:
- December 5, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Archstone-Smith announced that its Board increased its annualized common share dividend for 2003 to $1.71 per common share, or $0.4275 per quarter, up from $1.70 per common share in 2002. This marks the company's 11th consecutive dividend increase -- and a total increase of 151% since 1993. The $1.71 per common share represents a current yield of 7.2% based on the closing share price on December 4, 2002, which compares favorably with the average current dividend yield of 1.7% for the S&P 500 Index.
The Board also declared Archstone-Smith's first quarter 2003 dividend of $0.4275 per common share, payable on February 28, 2003, to common shareholders of record on ...