GREENWICH, Conn.--(BUSINESS WIRE)--At their regular meeting yesterday, the Directors of Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) approved an increase in the quarterly dividend rate declared for its Class A Common stock. The quarterly dividend rate declared for the Class A Common stock was increased to $0.25 per share, which represents an annualized increase of $0.01 per share for the Class A Common shares. In consideration of the company’s charter requirement that the Class A Common dividend rate be at least 10% higher than the Common dividend rate, the Board of Directors declared a quarterly dividend for the Common shares of $0.225 per share, unchanged from the prior year. The $0.01 increase on the Class A Common stock dividend represents the nineteenth consecutive year that the company has increased total dividends to its shareholders. The Class A Common and Common dividends are payable January 18, 2013 to stockholders of record on January 4, 2013. The dividends declared represent the 172nd consecutive quarterly dividend on common shares declared since the Company began operating in 1969.
The Directors of the company also declared the regular quarterly dividends on the Company’s Series C Preferred Stock, Series D Preferred Stock and Series F Preferred Stock. The dividends were declared in the amount of $2.125 for each share of Series C Preferred Stock, $0.46875 for each share of Series D Preferred Stock and $0.4849 for each share of Series F Preferred Stock. The dividends are payable January 31, 2013 to stockholders of record on January 18, 2013.
Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 54 properties containing approximately 4.9 million square feet of space. Listed on the New York Stock Exchange since 1969, it provides investors with a means of participating in ownership of income-producing properties. It has paid 172 consecutive quarters of uninterrupted dividends to its shareholders since its inception and has raised total dividends to its shareholders for the last 19 consecutive years.