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Stock Market & Financial Investment News

News Breaks
February 21, 2013
16:51 EDTPKYParkway Properties raises quarterly dividend 33% to 15c per share
Parkway Properties announced that its board declared a quarterly dividend of 15c per share, a 33% increase from the prior quarterly amount, payable on March 27 to shareholders of record for Common Stock on March 13. This dividend represents an annualized dividend rate of 60c per share.
News For PKY From The Last 14 Days
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November 17, 2014
16:06 EDTPKYParkway Properties announces consolidation of ownership in key Austin JV assets
Parkway Properties announced that Parkway and The California State Teachers' Retirement System have successfully unwound their joint venture in Austin, Texas. As part of the agreement, Parkway acquired CalSTRS' 60% interest in San Jacinto Center and One Congress Plaza, resulting in 100% ownership of these two assets, and transferred its 40% interest in Frost Bank Tower, 300 West 6th Street and One American Center to CalSTRS. Parkway also received net proceeds of approximately $43.6M from CalSTRS in connection with the transaction. Prior to the termination of the joint venture, Parkway's pro rata ownership in Austin was 967,000 square feet. Post-closing, Parkway now wholly owns 926,000 square feet, a decrease of 41,000 square feet. In addition, the net proceeds to Parkway of $43.6M will reduce Parkway's net debt to EBITDA and will be used to partially fund pending acquisitions.

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