FARMINGTON HILLS, Mich., Aug. 10, 2015 (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 $0.21 per common share, resulting in an indicated annual rate of $0.84 per share, an increase of $0.04 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, 2015 through September 30, 2015, are payable on October 1, 2015 to shareholders of record on September 21, 2015.
"For the fourth consecutive year our Board of Trustees has approved an increase in the common share dividend," said Dennis Gershenson, President and Chief Executive Officer. "The decision to increase the dividend reflects the Board and Management's continued confidence in the Company's long-term outlook."
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 large, multi-anchor shopping centers primarily in a dozen of the largest metropolitan markets in the United States. At June 30, 2015, the Company owned interests in and managed a portfolio of 78 shopping centers and one office building with approximately 16.7 million square feet of gross leasable area. At June 30, 2015, the Company's core operating portfolio was 95.3% leased. Additional information regarding the Company is available on its corporate website: www.rgpt.com.