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Article: Urstadt Biddle Properties Inc. Reports Improved Nine Months Results; Adds Two Properties to Core Portfolio in Third Quarter
- Article from:
- PR Newswire
- Article date:
- September 17, 1998
CopyrightCOPYRIGHT 1998 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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GREENWICH, Conn., Sept. 17 /PRNewswire/ -- Urstadt Biddle Properties Inc. (NYSE: UBP, UBP.A), a real estate investment trust, today reported its third quarter and nine months financial results for the periods ended July 31, 1998.
As previously announced on August 14, 1998, the Company paid a stock dividend on its Common Shares consisting of one share of a newly Created Class A Common Stock for each outstanding Common Share. Accordingly, the Company's financial results have been adjusted retroactively to reflect the effect of the stock dividend.
For the first nine months of fiscal 1998, funds from operations ("FFO") increased 5.6% to $7,993,000 or ...