JACKSON, Miss., Aug. 7 /PRNewswire-FirstCall/ -- Parkway Properties, Inc.
(NYSE: PKY) announced today that its Board of Directors declared a quarterly
dividend of sixty-five cents($.65) per share payable on September 24, 2008,
to shareholders of record of Common Stock on September 10, 2008. This
dividend is the eighty-eighth (88th) consecutive quarterly distribution to
Parkway's shareholders of Common Stock and represents an annualized dividend
rate of $2.60 per share.
The Board of Directors also declared a quarterly dividend of fifty cents($.50) per share payable on October 15, 2008 to shareholders of record of
Series D Preferred Stock on September 30, 2008.
Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a
self-administered real estate investment trust specializing in the operation,
leasing, acquisition, and ownership of office properties. The Company is
geographically focused on the Southeastern and Southwestern United States and
Chicago. Parkway owns or has an interest in 68 office properties located in 11
states with an aggregate of approximately 14.0 million square feet of leasable
space as of August 7, 2008. Included in the portfolio are 21 properties
totaling 3.8 million square feet that are owned jointly with other investors,
representing 27.1% of the portfolio. Under the Company's GEAR UP plan, which
started January 1, 2006, and ends December 31, 2008, it is the Company's
strategy to transform from an owner-operator to an operator-owner. The
strategy highlights the Company's strength in providing excellent service in
the operation of office properties in addition to its direct ownership of real
estate assets. Fee-based real estate services are offered through the
Company's wholly owned subsidiary, Parkway Realty Services, which also manages
and/or leases approximately 1.8 million square feet for third-party owners as
of August 7, 2008.
Parkway Properties, Inc.'s press releases and additional information about
the Company are available on the World Wide Web at http://www.pky.com .
CONTACT: STEVEN G. ROGERS
PRESIDENT & CHIEF EXECUTIVE OFFICER
SARAH P. CLARK
SENIOR VICE PRESIDENT
(601) 948-4091
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