American Land Lease, Inc. Declares Dividends on Preferred Stock and a Regular First Quarter Dividend on Common Stock and Announc
May 03 2007 - 4:40PM
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 first quarter dividend on its Common Stock. Dividends
on shares of Preferred Stock are payable on May 31, 2007 to
shareholders of record on May 18, 2007 and will be $0.4844 per
share. Dividends on the Company�s Common Stock are payable on May
31, 2007 to shareholders of record on May 18, 2007 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, Tuesday, May 8, 2007 at 9:00 a.m. Eastern
Daylight Time to discuss first quarter 2007 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 first quarter 2007 results conference call. If
you are unable to participate at the scheduled time, this
information will be available for recorded playback from 12:30 p.m.
EDT, May 8, 2007 until midnight on May 15, 2007. To access the
replay, dial toll free, 800-642-1687 and request information from
conference ID 8314737.
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