X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BIRMINGHAM, AL-Shareholders of Colonial Properties Trust’s preferred shares are getting a pre-New Year’s gift in dividends that equate to annualized payments of over $2 per share.

The Birmingham, AL-based REIT will be paying fourth-quarter dividends of 55 cents per share on its 8.75% Series A Cumulative Redeemable Preferred Shares and 58 cents per share on its 9.25% Series C issue.

The Series A dividend represents an annualized dividend of $2.19 per share; the Series C issue, $2.31 per share. The dividends will be paid Dec. 31 to holders of record on Dec. 17, the company says in a prepared statement.

With a total market capitalization of $2.8 billion, Colonial is one of the largest diversified REITs in the United States. The company operates 14,500 apartment units; 5.2 million sf of office; 15.3 million sf of retail in 17 malls and 27 non-mall properties.

Colonial’s properties are in Alabama, Florida, Georgia, Mississippi, North and South Carolina, Tennessee, Texas and Virginia. “The cornerstone of Colonial Properties’ success is its live, work and shop diversified investment strategy,” Colonial senior vice president Sandra Lee Robertson says in the statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.