ROCHESTER, N.Y., Feb. 3, 2014 /PRNewswire/ -- Home Properties (NYSE: HME) today announced a $0.03 per share increase to its regular quarterly cash dividend on common shares. The increase of 4.3% raises the quarterly dividend from $0.70 per share to $0.73 per share for the quarter ended December 31, 2013.  The dividend is payable on February 25, 2014 to shareholders of record on February 13, 2014 and is equivalent to an annualized rate of $2.92 per share. The current annual dividend represents a 5.2% yield based on the Friday, January 31, 2014 closing price of $55.75. Home Properties' common stock will begin trading ex-dividend on February 11, 2014.

"The Board of Directors increased the quarterly dividend based on solid operating and financial results in 2013 and its expectations that trend will continue in 2014," said Edward J. Pettinella, Home Properties' President and Chief Executive Officer.

This release contains forward-looking statements. Although the Company believes expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved.  Factors that may cause actual results to differ include general economic and local real estate conditions, weather and other conditions that might affect operating expenses, the timely completion of repositioning and new development activities within anticipated budgets, the actual pace of future acquisitions and dispositions, and continued access to capital to fund growth.

Home Properties is a publicly traded apartment real estate investment trust that owns, operates, develops, acquires and rehabilitates apartment communities primarily in suburbs of major metropolitan areas in selected Northeast and Mid-Atlantic markets.  An S & P 400 Company, Home Properties owns and operates 119 communities containing 42,080 apartment units.  For more information, visit Home Properties' website at www.homeproperties.com.

SOURCE Home Properties