Pan Pacific Retail Properties Announces Quarterly Dividend of $0.59 Per Share
August 16 2005 - 7:00AM
Business Wire
Pan Pacific Retail Properties, Inc. (NYSE:PNP) today reported its
Board of Directors declared the regular quarterly dividend of $0.59
per share, payable on September 15, 2005 to stockholders of record
on August 26, 2005. The quarterly dividend of $0.59 per share is
equivalent to $2.36 per share on an annualized basis. ABOUT PAN
PACIFIC RETAIL PROPERTIES Pan Pacific Retail Properties, Inc. is an
equity real estate investment trust (REIT) traded on the New York
Stock Exchange under the symbol PNP. The Company is the largest
neighborhood shopping center REIT focused exclusively on the West
Coast. Pan Pacific's portfolio currently totals 138 properties,
encompassing approximately 22.5 million square feet of retail
space. The portfolio is principally diversified across five
distinct regions in the Western United States: Northern California,
Southern California, Washington, Oregon and Nevada. Pan Pacific
focuses on creating long-term stakeholder value by specializing in
the acquisition, ownership and management of community and
neighborhood shopping centers for everyday essentials. The
Company's strategy is aimed at providing stakeholders with
long-term stable cash flow through maintaining a diverse portfolio
and tenant base, balanced with consistent growth through
implementing its acquisition and property management programs. Pan
Pacific is headquartered in Vista (San Diego), California, and has
regional offices located in Sacramento, California; Kent,
Washington; Portland, Oregon; and Las Vegas, Nevada. Additional
information on Pan Pacific is available on the Company's web site
at www.pprp.com. (Note: Certain matters discussed within this press
release are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 which reflect
management's current views with respect to future events and
financial performance. Forward-looking statements are subject to
risks and uncertainties. Factors that could cause actual results to
differ materially from expectations include market valuations of
our stock, financial performance and operations of our shopping
centers, real estate conditions, execution of shopping center
development programs, successful completion of renovations,
completion of pending acquisitions and dispositions, including the
completion of customary due diligence and closing conditions, the
Company's ability to successfully integrate acquired assets,
changes in the availability of additional acquisition and
disposition opportunities, changes in local or national economic
conditions, acts of terrorism or war and other risks detailed from
time to time in reports filed with the Securities and Exchange
Commission including the Company's Annual Report on Form 10-K for
the year ended December 31, 2004.)
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