Clearwater, FL (PRWEB) February 14, 2011
American Land Lease, Inc. (the “Company”) announced today that the Company’s Board of Directors declared a quarterly cash dividend on its 7.75% Series A Preferred Shares.
Dividends on the Company’s Series A Preferred Shares are payable on February 28, 2011 to shareholders of record as of the close of business on February 17, 2011 and will be $0.4844 per share.
Dividends on the Company’s Series A Preferred Shares are considered quarterly and are subject to suspension at any time. Unpaid dividends on the Series A Preferred Shares accumulate until paid. At this time, accumulated and unpaid dividends on the Series A Preferred Shares total approximately $2.42 per share.
About American Land Lease, Inc.
American Land Lease, Inc. is a Clearwater, Florida-based real estate investment trust that owns and manages high quality residential land-lease communities. The Company operates approximately 18,100 land-lease home sites in 48 communities located in ten states that are owned directly or by affiliated entities. For additional information, please visit http://www.AmericanLandLease.com.
American Land Lease, Inc.
Benjamin S. Allen, General Counsel
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect management’s current views with respect to future events and financial performance. The words “believes”, “expects”, “anticipates”, “estimates” and similar words or expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to, changes in general economic conditions, adverse changes in real estate markets as well as other risks and uncertainties.