PHILADELPHIA, Feb. 20 /PRNewswire/ -- Pennsylvania Real Estate Investment
Trust (NYSE: PEI) announced today that its Board of Trustees has approved a
quarterly cash dividend of $0.51 per share. The dividend will be paid on
March 15, 2001 to shareholders and unitholders of record on February 28, 2001.
The March 15, 2001 dividend payment will be PREIT's 96th consecutive
distribution since its initial dividend paid in August of 1962. Throughout
its history, the Company has never omitted or reduced a shareholder dividend.
Pennsylvania Real Estate Investment Trust, founded in 1960 and one of the
first equity REITs in the U.S., has a primary investment focus on shopping
centers (approximately 9.5 million square feet) and apartment communities
(7,242 units) located primarily in the eastern United States. The Company's
portfolio currently consists of 46 properties in 10 states. In addition,
there are 7 retail properties under development, which will add approximately
3.0 million square feet to the portfolio. Pennsylvania Real Estate Investment
Trust is headquartered in Philadelphia, Pennsylvania.
To receive additional information on Pennsylvania Real Estate Investment
Trust via fax at no charge, please dial 1-800-PRO-INFO and enter the ticker
symbol PEI.
SOURCE Pennsylvania Real Estate Investment Trust
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Related links:
http://www.preit.com
CONTACT:
Edward A. Glickman, Executive Vice President
and CFO of Pennsylvania Real Estate Investment Trust,
215-875-0700, or General, Joe Calabrese, 212-661-8030, Analysts,
Georganne Palffy, 312-266-7800, or Media, Judith Sylk-Siegel,
212-661-8030, all of The Financial Relations Board
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