HOUSTON--(BUSINESS WIRE)--The Board of Trust Managers of Camden Property Trust (NYSE:CPT) declared a first quarter cash dividend of $0.49 per share to holders of record as of March 31, 2011 of its Common Shares of Beneficial Interest. The dividend to be paid on April 18, 2011 equates to an annual dividend rate of $1.96 per share, and represents an 8.9% increase over the Company’s previous dividend rate. Based on Camden’s closing price of $56.14 on March 11, 2011, the annual dividend represents a 3.5% yield.
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 185 properties containing 63,209 apartment homes across the United States. Upon completion of two properties under development, the Company's portfolio will increase to 63,816 apartment homes in 187 properties. Camden was recently named by FORTUNE® Magazine for the fourth consecutive year as one of the “100 Best Companies to Work For” in America, placing 7th on the list.
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.