ATLANTA-Post Properties Inc. is paying first quarter 2006 dividends on three series of company stock. The locally based apartment and condominium developer will pay 45 cents per share on its common stock April 15 to shareholders of record on March 31. The annual dividend rate is $1.80 per common share.
On its 8.5% Series A Cumulative Redeemable Preferred Stock, Post will pay shareholders $1.0625 per share March 31 to holders of record on March 15. The company is paying about 48 cents per share March 31 on its 7 5/8% Series B Cumulative Redeemable Preferred Stock to record holders on March 15.
Post Properties owns 21,442 apartment homes in 58 communities, including 545 apartment units in two communities held in unconsolidated entities and 205 apartment units in one community currently under construction. The company is also developing 145 for-sale condominium homes and is converting 597 apartment units in four communities (including 121 units in one community held in an unconsolidated entity) into for-sale condominium homes through a taxable REIT subsidiary.
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