Cali Realty Corporation Declares Six Percent Increase in Cash Dividend Effective Third Quarter 1996

09/18/1996 Category: Dividends

CRANFORD, NJ--September 18, 1996--Cali Realty Corporation (NYSE:CLI) today announced a six percent increase in its quarterly cash dividend to $0.45 per share effective for the quarter ending September 30, 1996. This is an indicated annual rate of $1.80 per share.

The previous quarterly dividend was $0.425 per share, an indicated annual rate of $1.70 per share. The dividend will be paid on October 18, 1996 to shareholders of record as of October 3, 1996.

Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing leasing, management, acquisition, development, construction and tenant related services for its portfolio. Upon completion of the Harborside purchase, the Company will own 48 properties, primarily Class A office and office/flex buildings, totaling approximately 6.4 million square feet. All of the properties are located in New Jersey, New York and Pennsylvania.