Cali Realty Corporation Declares First Quarter Cash Dividend

03/14/1997 Category: Dividends

CRANFORD, NJ--March 14, 1997--Cali Realty Corporation (NYSE:CLI), today announced that its Board of Directors has declared a first quarter cash dividend of $0.45 per share (an indicated annual rate of $1.80 per share) for the period January 1, 1997 through March 31, 1997. The dividend will be paid on April 18, 1997 to shareholders of record as of April 3, 1997.

In addition, the Board of Directors of the Company announced that it has set May 15, 1997 as the date of the annual shareholders' meeting. The record date for determination of the right to vote at the annual meeting is March 24, 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 123 properties, primarily class A office and office/flex buildings, totaling approximately 11.4 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