BOSTON, May 2 /PRNewswire-FirstCall/ -- Boston Properties, Inc.
(NYSE: BXP), a real estate investment trust, declares a dividend today of
$0.61 per share of common stock for the period April 1, 2002 to June 30, 2002,
payable on July 30, 2002 to shareholders of record on June 28, 2002. This
represents approximately a 5.2% increase over last quarter's dividend of $0.58
per share.
Boston Properties also declared a dividend of $0.81918 per share of Series
A Convertible Redeemable Preferred Stock. The dividend is payable on August
15, 2002 to shareholders of record on June 28, 2002.
Boston Properties has instituted a Dividend Reinvestment and Stock
Purchase Plan ("Plan"). Shares to be purchased by Plan participants will
either be shares newly issued by Boston Properties or shares purchased by the
Plan's independent administrator from third parties. Boston Properties will
make available information regarding which method will be used this quarter to
obtain common stock for the Plan not later than July 20, 2002. All Plan
participants may access current information regarding the source of the common
stock by calling the pre-recorded message at 617-236-3680, and full details of
the Plan are contained in the Plan prospectus.
Boston Properties is a fully integrated, self-administered and
self-managed real estate investment trust that develops, redevelops, acquires,
manages, operates and owns a diverse portfolio of Class A office, industrial
and hotel properties. The Company is one of the largest owners and developers
of Class A office properties in the United States, concentrated in four core
markets -- Boston, Midtown Manhattan, Washington, D.C. and San Francisco.
This press release contains forward-looking statements within the meaning
of the Federal securities laws. You should exercise caution in interpreting
and relying on forward-looking statements because they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond Boston Properties' control and could materially affect actual results,
performance or achievements. These factors include, without limitation, the
ability to enter into new leases or renew leases on favorable terms,
dependence on the financial condition of tenants, the uncertainties of real
estate development and acquisition activity, the ability to effectively
integrate acquisitions, the costs and availability of financing, the effects
of local economic and market conditions, regulatory changes and other risks
and uncertainties detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
SOURCE Boston Properties, Inc.
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CONTACT:
Douglas T. Linde, Chief Financial Officer of
Boston Properties, Inc., +1-617-236-3300, or General Info.,
Marilynn Meek, +1-212-445-8451, or Media, Judith Sylk-Siegel,
+1-212-445-8431, both of FRB Weber Shandwick
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