American Land Lease, Inc. Declares Third Quarter Dividend and Announces Third Quarter Earnings Conference Call
29 October 2004 - 1:54AM
PR Newswire (US)
American Land Lease, Inc. Declares Third Quarter Dividend and
Announces Third Quarter Earnings Conference Call CLEARWATER, Fla.,
Oct. 28 /PRNewswire-FirstCall/ -- American Land Lease, Inc.
(NYSE:ANL) today announced that its Board of Directors declared a
regular third quarter dividend of $0.25 per share payable on
November 24, 2004 to stockholders of record on November 10, 2004.
The Company will not offer reinvestment of the third quarter
dividend through the dividend reinvestment plan. The Board of
Directors reviews the dividend policy quarterly. The Company's
dividend is set quarterly and is 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
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. The company will release its third quarter earnings
announcement on Friday, October 29, 2004. Management will hold a
teleconference call Wednesday, November 3, 2004 at 4:00 p.m.
Eastern Standard Time to discuss the third quarter 2004 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 third quarter 2004 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.
EST, November 3, 2004 until midnight on November 10, 2004. To
access the replay, dial toll free, (800) 642-1687 and request
information from conference ID 1921174. DATASOURCE: American Land
Lease, Inc. CONTACT: Robert G. Blatz, President, or Shannon E.
Smith, Chief Financial Officer, both of American Land Lease, Inc.,
+1-727-726-8868 Web site: http://www.americanlandlease.com/
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