PHILADELPHIA, July 16 /PRNewswire/ -- Pennsylvania Real Estate Investment
Trust (NYSE: PEI) announced today that it has declared a quarterly cash
dividend of $O.47 per share. The dividend will be paid on September 15, 1999
to shareholders and unitholders of record on August 31, 1999.
The September 15, 1999 dividend payment will be PREIT's 90th 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 8.0 million square feet) and apartment communities
(7,241 units) located primarily in the eastern United States. The Company's
portfolio currently consists of 47 properties in 10 states. In addition,
there are 6 properties under development. Pennsylvania Real Estate Investment
Trust is headquartered in Philadelphia, Pennsylvania.
SOURCE Pennsylvania Real Estate Investment Trust
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Related links:
http://www.preit.com
CONTACT:
Dante J. Massimini, Senior Vice President and
Treasurer of Pennsylvania Real Estate Investment Trust,
215-875-0700; or general info, Joe Calabrese, analyst info,
Pamela King, or media info, Judith Sylk-Siegel, of the Financial
Relations Board, 212-661-8030
NOTE TO EDITORS: To receive additional information on
Pennsylvania Real Estate Investment Trust via fax at no charge,
please dial 1-8OO-PRO-INF0 and enter the ticker symbol PEI
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