American Land Lease, Inc. Declares Dividends on Preferred Stock and a Regular Third Quarter Dividend on Common Stock and Announc
November 02 2006 - 11:45AM
Business Wire
American Land Lease, Inc. (NYSE:ANL) today announced that its Board
of Directors declared dividends on shares of its Preferred Stock
and a regular third quarter dividend on its Common Stock. Dividends
on shares of Preferred Stock are payable on November 30, 2006 to
shareholders of record on November 16, 2006 and will be $0.4844 per
share. Dividends on the Company�s Common Stock are payable on
November 30, 2006 to shareholders of record on November 16, 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, November 6,
2006 at 4:00 p.m. Eastern Standard Time to discuss third 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 third 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. EST, November 6, 2006 until midnight on
November 13, 2006. To access the replay, dial toll free, (800)
642-1687 and request information from conference ID 1428246.
American Land Lease, Inc. (NYSE:ANL) today announced that its Board
of Directors declared dividends on shares of its Preferred Stock
and a regular third quarter dividend on its Common Stock. Dividends
on shares of Preferred Stock are payable on November 30, 2006 to
shareholders of record on November 16, 2006 and will be $0.4844 per
share. Dividends on the Company's Common Stock are payable on
November 30, 2006 to shareholders of record on November 16, 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, November 6,
2006 at 4:00 p.m. Eastern Standard Time to discuss third 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 third 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. EST, November 6, 2006 until midnight on
November 13, 2006. To access the replay, dial toll free, (800)
642-1687 and request information from conference ID 1428246.
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