MELVILLE, N.Y.--(BUSINESS WIRE)--March 12, 2001--Reckson
Associates Realty Corp. (NYSE:RA) one of the largest publicly traded
owners, managers and developers of office and industrial properties in
the New York Tri-State area, announced today that its Board of
Directors has declared quarterly cash dividends on the Company's Class
A common stock, its Class B common stock, its Series A preferred stock
and its Series B preferred stock.
The Board has declared a quarterly cash dividend on the Company's
Class A common stock (NYSE:RA) of $.386 per share payable on April
17, 2001 to its stockholders of record as of April 5, 2001. The
dividend is based on an annualized dividend rate of $1.544 per share.
The Board has also declared a quarterly cash dividend on the
Company's Class B common stock (NYSE:RA.B) of $.60 per share payable
on April 30, 2001 to its stockholders of record as of April 12, 2001.
The dividend is based on an annualized dividend rate of $2.40 per
share.
The Board has also declared a quarterly cash dividend on the
Company's Series A preferred stock in the amount of $.4766 per share
payable on April 30, 2001 to its stockholders of record as of April
12, 2001.
The Board has also declared a quarterly cash dividend on the
Company's Series B preferred stock in the amount of $.522222 per share
payable on April 30, 2001 to its stockholders of record as of April
12, 2001.
March 23, 2001 has also been established as the record date for
Reckson's 2001 Annual Meeting of Stockholders which meeting has been
scheduled for Thursday, May 24, 2001 at a time and location to be
announced.
Reckson Associates Realty Corp. is a self-administered and
self-managed real estate investment trust (REIT) specializing in the
acquisition, leasing, financing, management, and development of office
and industrial properties.
Reckson's core growth strategy is focused on the markets
surrounding and including New York City. The Company is one of the
largest publicly traded owners, managers and developers of Class A
office and industrial properties in the New York Tri-State area, with
188 properties comprised of approximately 21.3 million square feet
either owned and controlled, directly or indirectly, or under
contract. For additional information on Reckson Associates Realty
Corp. please visit the Company's web site at www.reckson.com.
CONTACT:
Reckson Associates Realty Corp., Melville
Scott Rechler/Michael Maturo, 631/694-6900
