BRE Announces Quarterly Dividend

BRE Properties Inc. will pay a common share dividend of 42.5 cents a share on Sept. 28 to shareholders of record as of Sept. 8. Holders of Series A Cumulative Redeemable Preferred shares will receive a dividend of just over 53 cents a share on Oct. 2.

The quarterly common share dividend represents an annualized dividend of $1.70 per share, and an approximate 5.7% annualized yield, based on yesterday’s closing share price of $30.00. This is the 120th consecutive quarterly common stock dividend declared by BRE since its founding in 1970.

BRE Properties owns and operates 86 apartment communities (22,882 units) in the Western United States. BRE currently has 13 other apartment communities (3,123 units) in various stages of development. On July 12, BRE entered into an agreement to sell 22 apartment communities (4,909 units) in Tucson and Phoenix, Arizona; Albuquerque, New Mexico; and Las Vegas, Nevada.