ORLANDO, Fla., Feb. 21, 2013 /PRNewswire/ -- Parkway Properties, Inc. (NYSE:PKY) announced today that its Board of Directors declared a quarterly dividend of $0.15 per share, a 33% increase from the prior quarterly amount, payable on March 27, 2013 to shareholders of record for Common Stock on March 13, 2013. This dividend is the 106th consecutive quarterly distribution to Parkway's shareholders of Common Stock and represents an annualized dividend rate of $0.60 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 April 15, 2013, to shareholders of record for Series D Preferred Stock on March 29, 2013. 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 43 office properties located in nine states with an aggregate of approximately 11.9 million square feet of leasable space at January 1, 2013. Fee-based real estate services are offered through wholly owned subsidiaries of the Company, which in total manage and/or lease approximately 10.8 million square feet for third-party owners at January 1, 2013. Additional information about Parkway is 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.