Pan Pacific Retail Properties Announces 8.5% Dividend Increase to $2.56 Per Share on an Annualized Basis
08 Februar 2006 - 12:00PM
Business Wire
Pan Pacific Retail Properties, Inc. (NYSE:PNP) today reported its
Board of Directors declared the regular quarterly dividend,
increasing it by 8.5%, to $0.64 per share, payable on March 15,
2006 to stockholders of record on February 24, 2006. The quarterly
dividend of $0.64 per share is equivalent to $2.56 per share on an
annualized basis. Since its initial public offering in 1997, the
Company has increased its dividend each year for a total increase
of approximately 76.6%, equating to an average dividend increase of
approximately 8.5% per year. ABOUT PAN PACIFIC RETAIL PROPERTIES
Pan Pacific Retail Properties, Inc. is an equity real estate
investment trust (REIT) traded on the New York Stock Exchange under
the symbol PNP. The Company is the largest neighborhood shopping
center REIT focused exclusively on the West Coast. Pan Pacific's
portfolio currently totals 139 properties, encompassing
approximately 22.6 million square feet of retail space. The
portfolio is principally diversified across five distinct regions
in the Western United States: Northern California, Southern
California, Washington, Oregon and Nevada. Pan Pacific specializes
in the acquisition, ownership and management of community and
neighborhood shopping centers for everyday essentials. The
Company's strategy is aimed at generating long-term stable cash
flow through maintaining a diverse portfolio and tenant base,
balanced with consistent growth through implementing its
acquisition and property management programs. Pan Pacific is
headquartered in Vista (San Diego), California, and has regional
offices located in Sacramento, California; Kent, Washington;
Portland, Oregon; and Las Vegas, Nevada. Additional information on
Pan Pacific is available on the Company's web site at www.pprp.com.
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