DENVER--(BUSINESS WIRE)-- UDR, Inc. (NYSE:UDR) today announced that its Board of Directors declared a regular quarterly dividend on its Series E Preferred Stock for the fourth quarter of 2008 in the amount of $0.3322 per share. The preferred dividend is payable on January 30, 2009 to Series E preferred stock shareholders of record as of January 9, 2009.

Additionally, UDR announced that its Board of Directors declared a regular quarterly dividend on its Series G Preferred Stock for the period of October 30, 2008 to, but not including, January 30, 2009 in the amount of $0.421875 per share. The preferred dividend is payable on January 30, 2009 to Series G preferred stock shareholders of record as of January 9, 2009.

As previously announced, on November 12, 2008, UDR's Board of Directors declared a dividend payable to holders of its Common Stock. In a prospectus supplement, filed on December 9, 2008, UDR stated that a portion of the dividend in the amount of approximately $44 million, or $0.33 per share, represents payment of the regular dividend for the quarter ended December 31, 2008, and a portion represents an additional dividend payment in the amount of $0.96 per share, $132 million in the aggregate, associated with actual taxable gains and projected taxable income arising from property dispositions in 2008. The combined dividend is payable on January 29, 2009, to stockholders of record on December 9, 2008.

About UDR, Inc.

UDR, Inc. (NYSE:UDR), an S&P 400 company, is a leading multifamily real estate investment trust (REIT) with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of September 30, 2008, UDR owned 44,223 apartment homes and had 2,047 homes under development and another 684 homes under contract for development in its pre-sale program. For over 35 years, UDR has delivered long-term value to shareholders, the best standard of service to residents, and the highest quality experience for associates. Additional information can be found on the Company's website at www.udr.com.

This press release does not constitute an offer of any securities for sale. Statements contained in this press release, which are not historical facts, are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the Company's use of words such as "expects," "plans," "estimates," "projects," "intends," "believes," and similar expressions that do not relate to historical matters. Such forward-looking statements are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated, due to a number of factors, which include, but are not limited to, unfavorable changes in the apartment market, changing economic conditions, the impact of competition and competitive pricing, acquisitions or new developments not achieving anticipated results, delays in completing developments and lease-ups on schedule, expectations on job growth, home affordability and demand/supply ratio for multi-family housing, expectations concerning development and redevelopment activities, expectations on occupancy levels, expectations concerning the Vitruvian Park project, including expectations that the Company will be able to secure one of more institutional investor-partners, expectations that automation will help grow net operating income, expectations on post-renovated stabilized annual operating income, expectations on annualized net operating income and other risk factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time including the Company's Annual Report on Form 10-K and the Company's Quarterly Reports on Form 10-Q. All forward-looking statements in this press release are made as of today, based upon information known to management as of the date hereof. The Company assumes no obligation to update or revise any of its forward-looking statements even if experience or future changes show that indicated results or events will not be realized.

    Source: UDR, Inc.