JACKSONVILLE, Fla., April 28 /PRNewswire/ -- The Board of Directors of
Regency Realty Corporation (NYSE: REG), yesterday declared its regular
quarterly cash dividend of $.44 per share, payable on May 28, 1998, to
shareholders of record on May 14, 1998. The Company's current dividend pay
out ratio of Funds From Operations ("FFO") is 79.8% vs. 87.7% in the
comparable prior year quarter.
The Company also announced its quarterly financial results. For the
quarters ended March 31, 1998 and 1997, FFO was $16,023,989 or $.55 cents per
share (diluted) vs. $7,426,359 or $.48 cents per share (diluted),
respectively, a per share increase of 15.1%. Net income for common
stockholders was $19,556,103 or $.72 cents per share (diluted) vs. $4,036,772
or $.25 cents per share (diluted), respectively.
At March 31, 1998, the Company reported an investment in real estate, at
cost of $991.8 million and outstanding debt of $395.9 million. At March 31,
1997 the Company reported an investment in real estate, at cost of $624.9
million and outstanding debt of $304.9 million.
Regency is dedicated to being the leading owner, operator, and developer
of grocery anchored neighborhood infill shopping centers in the Eastern half
of the United States. The Company headquartered in Jacksonville, Florida,
currently owns and manages approximately 13.4 million square feet in 121
properties. Operating as a fully integrated real estate company, Regency
Realty Corporation is a qualified real estate investment trust, which is self
administered and self managed.
Supplemental Financial Information
A copy of the Company's 1998 supplemental financial report for the quarter
ended March 31, 1998 is available to all interested parties upon written
request to Lesley Stocker, Investor Relations, Regency Realty Corporation, 121
West Forsyth Street, Suite 200, Jacksonville, Florida, 32202. Previously
issued press releases are also available through PR Newswire's fax service at
800-758-5804 ext. 738469 or on the Internet at http://www.prnewswire.com .
SOURCE Regency Realty Corporation
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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 738469
CONTACT:
Bruce M. Johnson, Regency Realty Corporation,
904-351-0604
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