|By PR Newswire||
|December 6, 2012 05:08 PM EST||
CLEVELAND, Dec. 6, 2012 /PRNewswire/ -- Associated Estates Realty Corporation (NYSE, NASDAQ: AEC) announced today that a quarterly dividend of $0.19 per share has been declared on the Company's common shares, payable February 1, 2013 to shareholders of record on January 15, 2013. The dividend represents a 5.6% increase over the prior $0.18 per quarter dividend.
"Strong fundamentals and solid results have positioned the Company to once again raise the dividend," said Jeffrey I. Friedman, President and Chief Executive Officer.
Associated Estates is a real estate investment trust ("REIT") and is a member of the Russell 2000 and the MSCI US REIT Indices. The Company is headquartered in Richmond Heights, Ohio. Associated Estates' portfolio consists of 52 properties containing 13,950 units located in ten states. For more information about the Company, please visit its website at AssociatedEstates.com.
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SOURCE Associated Estates Realty Corporation