Home Properties Increases Dividend by 6.9% to $0.62

Home Properties HME today announced a $0.04 per share increase to its regular quarterly cash dividend on common shares. The increase of 6.9% raises the quarterly dividend from $0.58 per share to $0.62 for the quarter ended December 31, 2010. The dividend is payable on March 4, 2011 to shareholders of record on February 28, 2011 and is equivalent to an annualized rate of $2.48 per share. The current annual dividend represents a 4.5% yield based on yesterday's closing price of $55.26. Home Properties' common stock will begin trading ex-dividend on February 24, 2011.