UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 25, 2004
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First Real Estate Investment Trust of New Jersey
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(Exact name of registrant as specified in its charter)
New Jersey 2-27018 22-1697095
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
505 Main Street, Hackensack, NJ 07601
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(Address of principal executive offices) (Zip Code)
(201) 488-6400
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(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions (see General Instruction A.2. Below):
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[_] Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR
240.14.a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4 (C) under the
Exchange Act (17 CFR 240.13e-4(C))
Item 8.01 Other Events
DIVIDEND ANNOUNCEMENT
HACKENSACK, NJ, October 25, 2004 - First Real Estate Investment Trust ("FREIT")
announced that its fourth quarter dividend for fiscal year ending October 31,
2004 will be $ .50 per share, payable on December 14, 2004, to shareholders of
record on December 1, 2004. Additionally, FREIT announced that, beginning in the
first fiscal quarter of 2005, it is increasing its fixed quarterly to $ .25 per
share from $ .20 per share.
The $ .50 per share dividend payable for the fourth quarter raises dividends for
the fiscal year ended October 31, 2004 to $1.10 per share compared to $ .90 per
share for fiscal 2003 (adjusted for the 2-for-1 stock split), an increase of 22%
It is FREIT's policy to pay fixed quarterly dividends for the first three
quarters of its fiscal year. The final fourth quarter dividend is based on the
fiscal year's net income, taxable income, and funds from operations.
Disclosure Concerning Forward-Looking Statements
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Certain Statements in this Form 8-K may contain information that is, or
anticipate certain events that are, forward-looking within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Registrant cautions readers
that forward-looking statements, including, without limitation, those relating
to the Registrant's liquidity and capital resources, are subject to certain
risks and uncertainties. Actual results may differ materially from those
described in the forward-looking statements and will be affected by a variety of
risks and factors, including without limitation, the Registrant's future
financial performance; the availability of capital; general market conditions;
national and local economic conditions; particularly long-term interest rates;
the terms of federal, state and local governmental regulations that affect the
Registrant; and the competitive environment in which the Registrant operates,
including the availability of retail space and residential apartment units in
the areas where the Registrant's properties are located. In addition, the
Registrant's continued qualification as a real estate investment trust involves
the application of highly technical and complex rules of the Internal Revenue
Code. The forward-looking statements are made as of the date of this Form 8-K
and the Registrant assumes no obligation to update the forward-looking
statements or to update the reasons actual results could differ from those
projected in such forward-looking statements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY
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(Registrant)
By: /s/ Robert S. Hekemian
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Robert S. Hekemian
Chairman of the Board
October 25, 2004
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(Dated)