At their regular meeting yesterday, the Directors of Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) approved an increase in the quarterly dividends on the Company’s Class A Common Stock and Common Stock. The dividends were declared in the amounts of $0.245 for each share of Class A Common Stock and $0.2225 for each share of Common Stock. The dividends are payable January 21, 2011 to stockholders of record on January 7, 2011. The new dividend rates represent annualized increases of $0.01 per share for both the Class A Common shares and Common shares. The dividends declared represent the 164 th consecutive quarterly dividend on common shares declared since the Company began operating in 1969 and the seventeenth consecutive annual increase in the dividend rates.
The Directors of the company also declared the regular quarterly dividends on the Company’s Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock. The dividends were declared in the amount of $2.125 for each share of Series C Preferred Stock, $0.46875 for each share of Series D Preferred Stock and $0.53125 for each share of Series E Preferred Stock. The dividends are payable January 31, 2011 to stockholders of record on January 14, 2011.
UBP is a self-administered equity real estate investment trust providing investors with a means of participating in ownership of income-producing properties and investment liquidity. UBP owns or has an interest in 50 properties containing 4.6 million square feet of space. UBP’s core properties consist principally of community shopping centers located in the northeast with a concentration in Fairfield County, Connecticut, Bergen County, New Jersey and Westchester and Putnam Counties, New York.