Increases Common Dividend by 18 Percent
BOSTON, May 3 /PRNewswire/ -- Boston Properties, Inc. (NYSE: BXP), a real
estate investment trust, today declared a dividend of $0.53 per share of
common stock for the period April 1, 2000 to June 30, 2000, payable on July
28, 2000 to shareholders of record on June 30, 2000. This represents an
approximate 18% increase over last quarter's dividend of $0.45 per share.
Boston Properties also declared a dividend of $0.7089 per share of Series
A Convertible Redeemable Preferred Stock. The dividend is payable on
August 15, 2000 to shareholders of record on June 30, 2000.
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 June 20, 2000. All Plan
participants may access current information regarding the source of the common
stock by calling to listen to 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 the
Northeast Corridor from Virginia to Greater Boston and in Greater San
Francisco.
To receive Boston Properties' latest news and corporate developments via
fax at no cost, please call 1-800-PRO-INFO; use company code BXP. Visit the
Company's web site at http://www.bostonproperties.com . Also see
http://www.frbinc.com .
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 tenants' financial condition, 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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Related links:
http://www.bostonproperties.com
CONTACT:
Investor Relations, Elaine Quinlan of Boston
Properties, 617-236-3300; or General Info., Marilynn Meek,
212-661-8030, Analyst, Claire Koeneman, 312-266-7800, or Media,
Judith Sylk-Siegel, 212-661-8030, all of The Financial Relations
Board
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