35 In December 2004, 2003 and 2002, the Board of Directors of the Company authorized a distribution of $0.39 per common share payable in January 2005, 2004 and 2003, to holders of record on January 17, 2005, January 16, 2004 and January 17, 2003, respectively. As a result, $6,396,000, $6,187,000 and $5,927,000, were paid to common shareholders on January 31, 2005, January 30, 2004 and January 31, 2003, respectively. Also, $2,028,000, $2,024,000 and $2,020,000, were paid to limited partnership unitholders on January 31, 2005, January 30, 2004 and January 31, 2003 ($0.39 per Operating Partnership unit), respectively. The Board of Directors authorized preferred stock dividends of $0.50 and $0.31 per depositary share, to holders of record on January 3, 2005 and January 2, 2004, respectively. As a result, $2,000,000 and $1,244,000, were paid to preferred shareholders on January 14, 2005 and January 15, 2004, respectively. These amounts are reflected as  a reduction of stockholders’ equity in the case of common stock and preferred stock dividends and minority interests deductions in the case of limited partner distributions and are included in dividends  and distributions payable in the accompanying consolidated financial statements. 15. INTERIM RESULTS (Unaudited) The following summary presents the results of operations of the  Company for the quarterly periods of calendar years 2004 and 2003 (a) Includes $572 gain on land condemnation at White Oak. (b) The sum of the quarterly net income per common share-diluted, $1.13, differs from the annual net income per common share-diluted, $1.12, due to rounding. (c) Includes $182 gain on land condemnation at Avenel Business Park. 2004 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Revenue $ 26,341 $ 27,888 $ 29,044 $ 29,569 Operating income before minority interests  and gain on sale of property 8,329 8,329 8,793 8,256 Net income 6,305 6,286 7,355 (a) 6,228 Net income available to common stockholders 4,305 4,286 5,355 4,228 Net income available to common stockholders  per share (basic & diluted) (b) 0.27 0.27 0.33 0.26 ( In thousands, except per share amounts ) 2003 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Revenue $ 23,870 $ 23,226 $ 24,659 $ 26,129 Operating income before minority interests  and gain on sale of property 6,539 6,016 7,035 7,556 Net income 4,519 3,996 5,012 5,715 (c) Net income available to common stockholders 4,519 3,996 5,012 4,471 Net income available to common stockholders  per share (basic & diluted) 0.29 0.26 0.32 0.28 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS