Ramco-Gershenson Properties Trust Announces 5% Increase in Common Share Dividend
OREANDA-NEWS. September 07, 2016. Ramco-Gershenson Properties Trust (NYSE:RPT) (the “Company”) today announced that its Board of Trustees declared a regular third quarter cash dividend of \\$0.22 per common share, resulting in an indicated annual rate of \\$0.88 per share, an increase of \\$0.04 per share over the prior annual rate. The Board also approved a third quarter Series D convertible perpetual preferred share dividend of \\$0.90625 per share. The dividends, for the period July 1, 2016 through September 30, 2016, are payable on October 1, 2016 to shareholders of record on September 20, 2016.
"This is the fifth consecutive year our Board of Trustees has approved an increase in the common share dividend, which reflects the Board’s and Management’s continued positive outlook for the Company,” said Dennis Gershenson, President and Chief Executive Officer.
About Ramco-Gershenson Properties Trust
Ramco-Gershenson Properties Trust (NYSE:RPT) is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan. The Company’s business is the ownership and management of large, multi-anchor shopping centers primarily in a number of the largest metropolitan markets in the central United States. At June 30, 2016, the Company owned interests in and managed a portfolio of 68 shopping centers and one office building with approximately 15.2 million square feet of gross leasable area. At June 30, 2016, the Company’s consolidated operating portfolio was 95% leased. For more information about the Company visit www.rpgt.com.