DALLAS, Feb. 26, 2001 (PRIMEZONE) -- American Realty Investors, Inc. (NYSE:ARL) Monday announced that no annual dividend will be paid to holders of its common stock for 2000. The decision, voted by ARI directors at the February 21 board meeting, was based on an increased need for cash for larger equity stakes in the company's acquisition and development projects slated for the first half of 2001.
American Realty Investors announced its dividend policy last fall whereby an annual consideration of a payment to common shareholders will follow the fiscal yearend on Dec. 31. The annual dividend policy allows ARI's board to base its decision on actual financial results.
American Realty Investors, Inc., a 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. For more information on the company, go to www.amrealtytrust.com .