MELVILLE, N.Y.--(BUSINESS WIRE)--Dec. 15, 2000--Reckson Associates
Realty Corp. (NYSE: RA) one of the largest publicly traded owners and
managers 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 January
12, 2001 to its stockholders of record as of January 2, 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 January 31, 2001 to its stockholders of record as of January 12,
2001. The dividend is based on an annualized divided 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 January 31, 2001 to its stockholders of record as of
January 12, 2001.
The Board has also declared a quarterly cash dividend on the
Company's Series B preferred stock in the amount of $.521875 per share
payable on January 31, 2001 to its stockholders of record as of
January 12, 2001.
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 strategy is focused on the markets surrounding and
including New York City. The Company is one of the largest publicly
traded owners and managers of Class A office and industrial properties
in the New York Tri-State area, with 187 properties comprised of
approximately 21 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.
Scott Rechler
Michael Maturo
631/694-6900 (Phone)
631/622-6790 (Facsimile)
