CLEVELAND, March 15, 2012 /PRNewswire/ -- Associated Estates Realty Corporation (NYSE, NASDAQ: AEC) announced today that a quarterly dividend of $0.18 per share has been declared on the Company's common shares, payable May 1, 2012 to shareholders of record on April 11, 2012. The dividend represents a 5.9% increase over the prior $0.17 per quarter dividend, in keeping with the Company's revised dividend policy announced on February 6, 2012.
Associated Estates is a real estate investment trust ("REIT") and is a member of the Russell 2000 and the MSCI US REIT Indices. The Company is headquartered in Richmond Heights, Ohio. Associated Estates' portfolio consists of 53 properties containing 13,908 units located in eight states. For more information about the Company, please visit its website at AssociatedEstates.com.
For more information, please contact:
Jeremy Goldberg(216) 797-8715SOURCE Associated Estates Realty Corporation