First Industrial Declares Regular and Preferred Dividends

Industrial real estate owner First Industrial  (NYSE: FR  )  announced yesterday its second-quarter dividend of $0.085 per share/unit, the same rate it paid last quarter when it reinstated its dividend after a four-year hiatus.

The quarterly dividend is payable on July 15 to the holders of record at the close of business on June 28. The company also declared a dividend of $0.45313 per depositary share on its 7.25% Series K cumulative redeemable preferred stock, which trades on the NYSE under the symbol FR-PrK, that is payable on July 1 to stockholders of record on June 14.

The regular dividend payment equates to a $0.34-per-share annual dividend yielding 1.9% based on the closing price of First Industrial's stock on May 9.

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