Philadelphia, PA, February 16, 2017 – Pennsylvania Real Estate Investment Trust (NYSE: PEI) announced that its Board of Trustees has declared a quarterly cash dividend of $0.21 per common share. The dividend is payable on March 15, 2017 to common shareholders of record on March 1, 2017. The March 15th dividend payment will be the Company’s 160th consecutive distribution since its initial dividend paid in August of 1962.
The Company also announced today that its Board of Trustees has declared quarterly cash dividends of $0.515625 per share on its 8.25% Series A Cumulative Redeemable Perpetual Preferred Shares, $0.460938 per share on its 7.375% Series B Cumulative Redeemable Perpetual Preferred Shares, and an initial cash dividend of $0.24 per share to holders of its 7.20% Series C Preferred Shares. These dividends are payable on March 15, 2017 to holders of record on March 1, 2017. The Series C dividend represents the dividend accrued from the date of the original issuance of the Series C Preferred Shares to the dividend payment date.
PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT’s 23 million square feet of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the eastern U.S. with concentrations in the mid-Atlantic’s top MSAs. Since 2012, the Company has driven a transformation guided by an emphasis on portfolio quality and balance sheet strength driven by disciplined capital expenditures. Additional information is available at www.preit.com or on Twitter or LinkedIn.
Forward Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans, strategies, anticipated events, trends and other matters that are not historical facts. These forward-looking statements reflect PREIT’s current views about future events, achievements or results and are subject to risks, uncertainties and changes in circumstances that might cause future events, achievements or results to differ materially from those expressed or implied by the forward-looking statements. Important factors that might cause future events, achievements or results to differ materially from those expressed or implied by PREIT’s forward-looking statements include those discussed in its Annual Report on Form 10-K for the year ended December 31, 2015 in the section entitled “Item 1A. Risk Factors.” PREIT does not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.
CONTACT: AT THE COMPANY
SVP, Corporate Communications and Investor Relations