Alexander's to pay special $7 dividend

By Associated Press
September 9, 2008 | Comments (0)

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Real estate investment trust Alexander's Inc. said Tuesday it will pay a special $7 dividend with the proceeds from the liquidation of one of its real estate investment trust subsidiaries.

Alexander's, which owns seven properties in the New York metropolitan area, said the dividend is payable Oct. 30 to shareholders of record on Oct. 14.

The company liquidated its 731 Residential Holdings LLC, which developed and sold condominiums at its building at 731 Lexington Ave. in New York.

Alexander's shares added $1 to $396 in afternoon trading.

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