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Strategies & Market Trends : Dividend investing for retirement

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To: Steve Felix who wrote (2406)	5/27/2009 8:25:29 AM
From: Steve Felix	Read Replies (1) of 34328

One to remove already. Was the highest yield on the list. Be careful out there. ng UDR (UDR) Cuts Qtr. Dividend to $0.18, to Save $79M Over Next Year May 26, 2009 8:06 AM EDT UDR, Inc. (NYSE: UDR) today announced that its Board has approved a 40.9% reduction in its quarterly dividend from $0.305 to $0.18 per common share, payable in cash, on July 31, 2009 to UDR common stock shareholders of record as of July 10, 2009. “Given our desire to further strengthen UDR’s balance sheet, the Board of Directors has decided to establish a dividend rate that increases retained capital by approximately $79 million over the next 12 months. This action, combined with the existing $1.2 billion of cash and credit capacity allows the Company to effectively navigate the challenging economy and be better positioned to take advantage of opportunities as they emerge,” commented Tom Toomey, UDR’s President and Chief Executive Officer.

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