FORT WASHINGTON, Penn., April 30 /PRNewswire/ -- Pennsylvania Real Estate
Investment Trust (NYSE: PEI) announced that it has declared a quarterly cash
dividend of $0.47 per share. The dividend will be paid on June 15, 1998 to
shareholders and unitholders of record on May 31, 1998.
The June 15, 1998 dividend payment will be PREIT's 85th 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 apartment
communities (6,924 units) and shopping centers (6 million square feet) located
primarily in the eastern United States. PREIT's portfolio currently consists
of 45 properties in 10 states. PREIT is headquartered in Fort Washington,
Pennsylvania, a suburb of Philadelphia.
SOURCE Pennsylvania Real Estate Investment Trust
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CONTACT:
Dante J. Massimini, Senior Vice President and
Treasurer of Pennsylvania Real Estate Investment Trust,
215-542-9250; or Julie Gottlieb, General Info, Pamela King,
Analyst Info, or Judith Sylk-Siegel, Media Info, all 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 1-800-PRO-INFO and enter the ticker symbol PEI
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