Vornado's Board of Trustees Declares an Increased Quarterly Common Dividend of $.85 Per Share, (a New Indicated Annual Rate of $3.40) and a Special $.54 Dividend on Common Shares
PARAMUS, N.J.--(BUSINESS WIRE)--
VORNADO REALTY TRUST (NYSE:VNO) today announced that its Board of Trustees has declared an increased quarterly cash dividend of $.85 per share, (a new indicated annual rate of $3.40). The former quarterly rate was $.80 per share.
Further, the Board of Trustees has declared a special dividend of $.54 per share from the long-term capital gain recognized on the sale of its investment in Sears Holdings, Inc. common stock.
The regular dividend and the special dividend are both payable on November 21, 2006 to shareholders of record on November 7, 2006.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.
Source: Vornado Realty Trust
Contact: Vornado Realty Trust Joseph Macnow, 201-587-1000