BIRMINGHAM, Ala., Jan. 21 /PRNewswire-FirstCall/-- Colonial Properties
Trust (NYSE: CLP), announced today its Board of Trustees has approved a
dividend of $0.675 per common share, payable on February 7, 2005 to
shareholders of record as of January 31, 2005, representing an ex-dividend
date of January 27, 2005. This annualized dividend of $2.70 per share
represents a $0.02 increase over the dividend rate for 2004. This represents
the twelfth consecutive year that the Company has increased its dividend.
Thomas H. Lowder, Colonial Properties' chairman and chief executive officer
noted, "Colonial Properties has increased its dividend each year since our
initial public offering (IPO) in 1993. We continue to provide an above
average yield for our investors."
(Logo: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
Colonial Properties Trust is a diversified REIT that, through its
subsidiaries, owns a portfolio of multifamily, office and retail properties
where you live, work and shop in Alabama, Florida, Georgia, Mississippi, North
Carolina, South Carolina, Tennessee, Texas and Virginia. Colonial Properties
Trust performs development, acquisition, management, leasing and brokerage
services for its portfolio and properties owned by third parties. Colonial
Properties Trust is a diversified REIT, which has a total market
capitalization in excess of $3.5 billion. The foundation of Colonial
Properties' success is its live, work and shop diversified investment
strategy. The Company manages or leases 28,453 apartment units, 6.8 million
square feet of office space and 15.6 million square feet of retail shopping
space. Additional information on Colonial Properties Trust is available on
the Internet at http://www.colonialprop.com . The Company, headquartered in
Birmingham, Ala., is listed on the New York Stock Exchange under the symbol
"CLP" and is included in the S&P SmallCap 600 Index.
SOURCE Colonial Properties Trust
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Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c
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PRN Photo Desk, photodesk@prnewswire.com
Related links:
http://www.colonialprop.com
CONTACT:
Barbara M. Pooley, Senior Vice President -
Investor Relations of Colonial Properties Trust, +1-800-645-3917
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