ATLANTA--(BUSINESS WIRE)--Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced that at a meeting earlier today, the Board declared quarterly dividends on its common stock of $0.47 per share for the second quarter of 2016. The dividend is payable on July 15, 2016, to all common shareholders of record as of June 30, 2016.
Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for the second quarter of 2016. The dividend is payable on June 30, 2016, to all Series A preferred shareholders of record as of June 15, 2016.
The Company also announced today that shareholders at the Company’s Annual Meeting elected the Board’s eight nominees, voted to approve, on an advisory basis, executive compensation, and ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accountants for 2016.
About Post Properties
Post Properties, founded 45 years ago, is a leading developer and operator of upscale multifamily communities. Operating as a real estate investment trust (“REIT”), the Company focuses on developing and managing Post® branded high density urban and resort-style garden apartments. Post Properties is headquartered in Atlanta, Georgia, and has operations in ten markets across the country.
Post Properties has interests in 24,162 apartment units in 61 communities, including 1,471 apartment units in four communities held in unconsolidated entities and 2,630 apartment units in seven communities currently under development or in lease-up.