(MELVILLE, NEW YORK, September 14, 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 Companys 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 Companys Class A common stock (NYSE: RA) of $.386 per share payable on October 17, 2000 to its stockholders of record as of October 6, 2000. 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 Companys Class B common stock (NYSE: RA.B) of $.60 per share payable on October 31, 2000 to its stockholders of record as of October 13, 2000. 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 Companys Series A preferred stock in the amount of $.4766 per share payable on October 31, 2000 to its stockholders of record as of October 13, 2000.
The Board has also declared a quarterly cash dividend on the Companys Series B preferred stock in the amount of $.521875 per share payable on October 31, 2000 to its stockholders of record as of October 13, 2000.
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.
Recksons 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 185 properties comprised of approximately 20.6 million square feet either owned and controlled, directly or indirectly, or under contract. For additional information on Reckson Associates Realty Corp. please visit the Companys web site at www.reckson.com.
