DALLAS, Sept. 8, 2000 (PRIMEZONE) -- The Board of Directors of American Realty Investors, Inc. (NYSE:ARL) Friday announced dividend declarations for the company's common stock will be determined on an annual basis following the end of each fiscal year on December 31.
No dividends will be declared or paid during the remainder of 2000.
"As directors of a newly established company, the board believes dividends should be determined on an annual basis, allowing it to more accurately base such payments on actual financial results," said Karl L. Blaha, chairman and president of ARI.
American Realty Investors, Inc. was formed upon the combination of American Realty Trust, Inc. and National Realty, L.P. on August 2, 2000, and began trading on August 3. The Dallas-based real estate investment company holds a diverse portfolio of equity real estate located across the U.S., including office buildings, apartments, hotels, shopping centers and developed and undeveloped land. ARI also has interests in mortgage loans and real estate-related entities.