NEW YORK, Sept. 15 /PRNewswire-FirstCall/ -- Lexington Corporate Properties Trust ("Lexington"), a real estate investment trust, today announced that its Board of Trustees approved the declaration of a dividend of $0.365 per common share payable on October 16, 2006, to shareholders of record of common shares as of October 2, 2006.
In connection with its previously announced proposed merger with Newkirk Realty Trust, Inc., Lexington adjusted its common share dividend declaration, record and payment dates and, going forward, intends to pay quarterly dividends with respect to its common shares on each of January 15, April 15, July 15 and October 15 (or, if not a business day, the next succeeding business day).
The Board also approved the declaration of dividends of $0.503125 per Series B Cumulative Redeemable Preferred Share and $0.8125 per Series C Cumulative Convertible Preferred Share. The Series B and Series C Preferred Share dividends are payable on November 15, 2006, to shareholders of record of Series B and Series C Preferred Shares as of October 31, 2006.
About Lexington
Lexington is a real estate investment trust that owns and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington currently pays an annualized dividend of $1.46 per share. Additional information about Lexington is available at http://www.lxp.com/ .
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in Lexington's periodic filings with the Securities and Exchange Commission. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.
