Avalonbay Communities (AVB) Declares $1.16 Quarterly Dividend; 3% Yield

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Go back to Avalonbay Communities (AVB) Declares $1.16 Quarterly Dividend; 3% Yield

Avalonbay Communities (AVB) Announces 4.5M Common Offering

September 9, 2014 4:07 PM EDT

Avalonbay Communities (NYSE: AVB) announced the commencement of a public offering of up to approximately 4,500,000 shares of its common stock on a forward basis in connection with the forward sale agreement described below. The underwriters are expected to have a 30-day option to purchase up to an additional 675,000 shares of the Companys common stock (the Option to Purchase Additional Shares). Goldman, Sachs & Co. is acting as the book-running manager for the offering.

The Company expects to use the net proceeds, if any, received upon the settlement of the forward sale agreement described below to... More