CLEVELAND, May 6, 2009 (GLOBE NEWSWIRE) -- Associated Estates Realty Corporation (Nasdaq:AEC) (NYSE:AEC) announced today that a quarterly dividend of $0.54375 per one-tenth depositary share has been declared on the Company's 8.70% Class B Series II Cumulative Redeemable Preferred Shares (NYSE:AECPRB) (Nasdaq:AECPRB), payable on June 15, 2009 to shareholders of record on May 29, 2009. Each depositary share represents one-tenth of a share of the Company's 8.70% Class B Series II Cumulative Redeemable Preferred Shares.
Associated Estates Realty Corporation (AEC) is a real estate investment trust ("REIT") and is a member of the Russell 2000. The Company is headquartered in Richmond Heights, Ohio. AEC's portfolio consists of 52 properties containing 13,192 units located in nine states. For more information about the Company, please visit its website at www.aecrealty.com.
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