Series A preferred share dividends are cumulative and payable quarterly at an annualized rate of $2.2897 per share.
The company, which specializes in building luxury apartment communities in locations with large barriers to entry, also declared a dividend of $0.5469 per Cumulative Redeemable Series D preferred share. It also is payable on March 31, to shareholders of record on March 17. Series D preferred share dividends are cumulative and payable quarterly at an annualized rate of $2.1875 per share.
Archstone-Smith is one of the nation's leading owner, operator. developer and acquirer of apartments, with 289 garden-style and high-rise apartment properties in protected locations in major metropolitan areas across the country.
With a current total market capitalization of approximately $9.2 billion, Archstone-Smith owns or has an ownership position in 100,714 apartment units, including 2,795 units under construction, as of Jan. 31.
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