Metairie, LA – Biloxi Marsh Lands Corporation (PINK SHEETS:BLMC) today announced that during its meeting on December 20, 2004 the Board of Directors declared a cash dividend of $1.50 per share of common stock payable on January 17, 2005 to shareholders of record as of the close of business on December 31, 2004. This dividend is the fourth to be declared during 2004 and brings the total amount of dividends declared during the year to $4.125 per share (adjusted for 4:1 stock split effective June 1, 2004).
The company is pleased to announce that early this year the Board retained the services of KPMG, LLP to serve as independent auditors for 2004.
Biloxi Marsh Lands Corporation owns approximately 88,000 acres of marsh lands located in St. Bernard Parish, Louisiana. As the landowner, it derives the vast majority of its revenue from oil and gas exploration and production activities that take place on or near the company’s land. The company also derives minimal revenues from surface rentals.
Contact Info: Biloxi Marsh Lands Corporation
Colleen Starks, 504.837.4337