ORLANDO, Fla., Aug. 17, 2012 /PRNewswire/ -- Parkway Properties, Inc. (NYSE:PKY) announced today that its Board of Directors declared a quarterly dividend of $0.1125 per share, a 50% increase from the prior quarterly amount and higher than the previously announced anticipated increase. The dividend is payable on September 26, 2012 to shareholders of record for Common Stock on September 12, 2012. This dividend is the 104th consecutive quarterly distribution to Parkway's shareholders of Common Stock and represents an annualized dividend rate of $0.45 per share. (Logo: http://photos.prnewswire.com/prnh/20030513/PARKLOGO ) The Board of Directors also declared a quarterly dividend of $0.50 per share payable on October 15, 2012 to shareholders of record for Series D Preferred Stock on September 28, 2012. About Parkway Properties Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a self-administered real estate investment trust specializing in the ownership of quality office properties in higher growth submarkets in the Sunbelt region of the United States. Parkway owns or has an interest in 39 office properties located in 9 states with an aggregate of approximately 10.3 million square feet of leasable space at August 8, 2012. Fee-based real estate services are offered through wholly-owned subsidiaries of the Company, which in total manage and/or lease approximately 11.9 million square feet for third-party owners at August 8, 2012. Parkway Properties, Inc.'s press releases and additional information about the Company are available on the Company's website at www.pky.com. Contact:Thomas E. BlalockVice President of Investor Relations(407) 650-0593 SOURCE Parkway Properties, Inc.