HOUSTON--(BUSINESS WIRE)--
Camden Property Trust (NYSE:CPT) today announced that in order to
maintain maximum financial flexibility in light of the current state of
the capital markets, and recognizing the dividend requirements for the
increased number of shares expected to be outstanding upon completion of
the common share offering announced today, it expects to reduce its
current $0.70 per share quarterly dividend payments for the balance of
2009. Subject to the completion of the common share offering, Camden
expects to pay a $0.45 per share dividend with respect to each of the
second, third and fourth quarters of 2009. It currently expects to pay
the final three 2009 dividend payments fully in cash.
While the statement above concerning the remaining dividends for 2009
are the Company's current expectation, the actual dividend payable will
be determined by the Board of Trust Managers based on circumstances at
the time of the declaration and the actual dividend may vary from such
expected amounts.
In addition to historical information, this press release contains
forward-looking statements under the federal securities law. These
statements are based on current expectations, estimates and projections
about the industry and markets in which Camden operates, management's
beliefs, and assumptions made by management. Forward-looking statements
are not guarantees of future performance and involve certain risks and
uncertainties which are difficult to predict.
Camden Property Trust, an S&P 400 Company, is a real estate company
engaged in the ownership, development, acquisition, management and
disposition of multifamily apartment communities. Camden owns interests
in and operates 182 properties containing 63,269 apartment homes across
the United States. Upon completion of four properties under development,
the Company's portfolio will increase to 64,329 apartment homes in 186
properties. Camden was recently named by FORTUNE(R) Magazine for the
second consecutive year as one of the "100 Best Companies to Work For"
in America.
For additional information, please contact Camden's Investor Relations
Department at (800) 922-6336 or (713) 354-2787 or access our website at camdenliving.com.
Source: Camden Property Trust
Contact: Camden Property Trust
Kim Callahan, 713-354-2549