BOSTON, Sept. 16 /PRNewswire/ -- Boston Properties, Inc. (NYSE: BXP), a
real estate investment trust, today declared a dividend of $0.45 per share of
common stock for the period July 1, 1999 to September 30, 1999, payable on
October 28, 1999 to shareholders of record on September 30, 1999. This
dividend represents a 6% increase over the previous common dividend.
Boston Properties also declared a dividend of $0.68562 per share of Series
A Convertible Redeemable Preferred Stock. The dividend is payable on November
15, 1999 to shareholders of record on September 30, 1999.
Boston Properties has instituted a Dividend Reinvestment and Stock
Purchase Plan ("Plan"), through which Boston Properties' common and preferred
shareholders and unit holders in Boston Properties Limited Partnership may
reinvest distributions and make optional purchases of common stock. Shares to
be purchased by Plan participants will be either shares newly issued by Boston
Properties or shares purchased by the Plan's independent administrator from
third parties. Boston Properties will determine not later than Monday,
September 21, 1999, which method will be used this quarter to obtain common
stock for the Plan. All Plan participants may access current information
regarding the source of the common stock by calling 617-236-3680 to listen to
the recorded message. Full details of the Plan are contained in the Plan
prospectus. Stockholders and unit holders wishing to withdraw from the Plan
and receive the dividend in cash must notify the Plan administrator in writing
at least three business days before the record date, or by the close of
business September 24, 1999.
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 .
SOURCE Boston Properties, Inc.
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Related links:
http://www.bostonproperties.com
CONTACT:
Elaine Quinlan, Investor Relations of Boston
Properties, Inc., 617-236-3300; or General Info., Marianne
Stewart, 212-661-8030, Analysts, Claire Koeneman, 312-266-7800,
or Media, Judith Sylk-Siegel, 212-661-8030, all of The Financial
Relations Board
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