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HME announces quarterly dividend

By MARY STONE - 10/26/2010 3:31:48 PM

Home Properties Inc. Tuesday afternoon declared a dividend of 58 cents a share on its common shares for the quarter ended Sept. 30.

The dividend is payable on Nov. 23 to shareholders of record on Nov. 12, and is equivalent to an annualized rate of $2.32 a share. The current annual dividend represents a 4.2 percent yield based on Monday’s closing price of $55.42. Home Properties’ common stock will begin trading ex-dividend on Nov. 9, officials said.

Shares of Home Properties (NYSE: HME) were trading Tuesday afternoon at $55.30, down 13 cents from Monday’s close. 

Home Properties is a Rochester-based apartment real estate investment trust with a portfolio of 115 apartment communities located mainly along the east coast.

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