ORLANDO, Fla., Nov. 8, 2012 /PRNewswire/ -- Parkway Properties, Inc. (NYSE:PKY) announced today that its Board of Directors declared a quarterly dividend of $0.1125 per share payable on December 26, 2012, to shareholders of record for Common Stock on December 12, 2012. This dividend is the 105th 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 January 15, 2013, to shareholders of record for Series D Preferred Stock on December 31, 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 38 office properties located in nine states with an aggregate of approximately 10.0 million square feet of leasable space at November 1, 2012. Fee-based real estate services are offered through wholly owned subsidiaries of the Company, which in total manage and/or lease approximately 11.6 million square feet for third-party owners at November 1, 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.