Cali Realty Corporation Declares 11 Percent Increase in Cash Dividend Effective Third Quarter 1997

09/16/1997 Category: Dividends

CRANFORD, NJ--September 16, 1997--Cali Realty Corporation (NYSE:CLI) today announced an 11 percent increase in its quarterly cash dividend to $0.50 per share effective for the quarter ending September 30, 1997. This is an indicated annual rate of $2.00 per share.

The previous quarterly dividend was $0.45 per share, an indicated annual rate of $1.80 per share. The dividend will be paid on October 17, 1997 to shareholders of record as of October 3, 1997.

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. The Company owns 132 properties, primarily office and office/flex buildings, totaling approximately 12.2 million square feet. All of the properties are located in New Jersey, New York, Pennsylvania and Connecticut. Additional information on Cali Realty Corporation is available on the Company's website at http://www.calirealty.com.