FARMINGTON HILLS, Mich., Sept. 3, 2014 (GLOBE NEWSWIRE) -- Ramco-Gershenson Properties Trust (NYSE:RPT) (the "Company") today announced that its Board of Trustees declared a regular third quarter cash dividend of $0.20 per common share, resulting in an indicated annual rate of $0.80 per share, an increase of $0.05 per share over the prior annual rate. The Board also approved a third quarter Series D convertible perpetual preferred share dividend of $0.90625 per share. The dividends, for the period July 1, 2014 through September 30, 2014, are payable on October 1, 2014 to shareholders of record on September 19, 2014.
"The increase in our common share dividend reflects our Board of Trustees confidence in the Company's financial and operating performance and long-term outlook," said Dennis Gershenson, President and Chief Executive Officer. "Over the last several years Ramco-Gershenson's shareholders have benefited from a superior total return on their investment in our Company."
About Ramco-Gershenson Properties Trust
Ramco-Gershenson Properties Trust (NYSE:RPT) is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan. The Company's business is the ownership and management of multi-anchor shopping centers in strategic metropolitan markets throughout the Eastern, Midwestern and Central United States. At June 30, 2014, the Company owned and managed a portfolio of 78 shopping centers and one office building with approximately 15.6 million square feet of gross leasable area owned by the Company or its joint ventures. The properties are located in Michigan, Florida, Ohio, Georgia, Missouri, Colorado, Wisconsin, Illinois, Indiana, New Jersey, Virginia, Maryland, and Tennessee. At June 30, 2014, the Company's core operating portfolio was 95.7% leased. Additional information regarding the Company is available via the corporate website at www.rgpt.com.