Federal Realty Investment Trust Declares Quarterly Dividends
ROCKVILLE, Md.--(BUSINESS WIRE)--Dec. 14, 2004--Federal Realty Investment Trust (NYSE:FRT) announced today that its Board of Trustees declared a regular quarterly cash dividend of $0.505 per share on its common shares, resulting in an indicated annual rate of $2.02 per share. The dividend will be payable on January 17, 2005, to common shareholders of record as of January 3, 2005.
Federal Realty's Board of Trustees also declared a regular quarterly cash dividend of $0.53125 per share on the Trust's Series B Cumulative Redeemable Preferred Shares (NYSE:FRTprB). Dividends on the Series B Cumulative Redeemable Preferred Shares will be payable on January 31, 2005 to shareholders of record on January 17, 2005.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of shopping centers and Street Retail properties. Federal Realty's portfolio (excluding joint venture properties) contains approximately 16.8 million square feet located primarily in strategic metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 465,000 square feet of retail space through its joint venture with Clarion Lion Properties Fund. Our operating portfolio (excluding joint venture properties) was 94.2% leased to approximately 2,200 national, regional, and local retailers as of September 30, 2004, with no single tenant accounting for more than 2.3% of rental revenue. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 37 consecutive years, the longest consecutive record in the REIT industry. Shares of Federal Realty are traded on the NYSE under the symbol FRT.
Safe Harbor Language
Certain matters discussed within this press release may be deemed to be forward-looking statements within the meaning of the federal securities laws. Although Federal Realty Investment Trust believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Federal Realty's expectations are detailed from time to time in our SEC reports, including our annual report on Form 10-K (as amended), our quarterly reports on Form 10-Q, and the risks contained in our Current Report on Form 8-K filed with the Securities and Exchange Commission on March 11, 2004. Federal Realty assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Federal Realty Investment Trust, Rockville
Investor and Media Inquiries:
Andrew Blocher, 301-998-8166
Suzanne O'Neill, 301-998-8358
SOURCE: Federal Realty Investment Trust