American Land Lease, Inc. Declares Dividends on Preferred Stock and a Regular Second Quarter Dividend on Common Stock and Annou
04 August 2006 - 2:03AM
PR Newswire (US)
CLEARWATER, Fla., Aug. 3 /PRNewswire-FirstCall/ -- American Land
Lease, Inc. (NYSE:ANL) today announced that its Board of Directors
declared dividends on shares of its Preferred Stock and a regular
second quarter dividend on its Common Stock. Dividends on shares of
Preferred Stock are payable on August 31, 2006 to shareholders of
record on August 15, 2006 and will be $0.4844 per share. Dividends
on the Company's Common Stock are payable on August 31, 2006 to
shareholders of record on August 15, 2006 and will be $0.25 per
share. The Board of Directors reviews the dividend policy
quarterly. The Company's dividends are set quarterly and are
subject to change or elimination at any time. The Company's primary
financial objective is to maximize long- term, risk-adjusted
returns on investment for common stockholders. While the dividend
policy is considered within the context of this objective,
maintenance of past dividend levels is not a primary investment
objective of the Company and the dividend policy is subject to
numerous factors, including the Company's profitability, capital
expenditure plans, obligations related to principal payments and
capitalized interest, and the availability of debt and equity
capital at terms deemed attractive by the Company to finance these
expenditures. The Company's net operating loss may be used to
offset all or a portion of its real estate investment trust
("REIT") taxable income, which may allow the Company to reduce or
eliminate its dividends and still maintain its REIT status.
Management will hold a teleconference call, Monday, August 7, 2006
at 4:00 p.m. Eastern Daylight Time to discuss second quarter 2006
results. You can participate in the conference call by dialing,
toll-free, (800) 374-5458 approximately five minutes before the
conference call is scheduled to begin and indicating that you wish
to join the American Land Lease second quarter 2006 results
conference call. If you are unable to participate at the scheduled
time, this information will be available for recorded playback from
5:30 p.m. EDT, August 7, 2006 until midnight on August 14, 2006. To
access the replay, dial toll free, (800) 642-1687 and request
information from conference ID 2769227. DATASOURCE: American Land
Lease, Inc. CONTACT: Robert G. Blatz, President, or Shannon E.
Smith, Chief Financial Officer, both of American Land Lease,
+1-727-726-8868 Web site: http://www.americanlandlease.com/
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