Washington Trust announces transactions, dividend

WASHINGTON TRUST's board of declared a quarterly dividend of 32 cents per share for the quarter ending Sept. 30, 2014.
WASHINGTON TRUST's board of directors declared a quarterly dividend of 32 cents per share for the quarter ending Sept. 30, 2014.

WESTERLY – Washington Trust’s Commercial Banking Group this month announced $8 million in financing for two separate Connecticut transactions.
The Westerly-based financial institution said that it provided $6 million in construction and permanent financing to Science Hill Realty LLC, the real estate holding company of Foster Corp., for a new manufacturing facility in Putnam, Conn. Foster is a leading supplier to the medical device industry. The company recently broke ground on the 9.21 acre lot at 36 Ridge Road in Putnam, Conn., that will house a 32,000-square-foot manufacturing facility. The new building is scheduled to be completed by May 1, 2015.
Separately, the company said that it provided $2.24 million to PVRD LLC to finance the acquisition of a multi-tenant retail property currently occupied by PetSmart and Michaels Stores in Manchester, Conn. The 50,000 square-foot property is part of The Plaza at Buckland Hills, an expansive shopping center located just off of I-84 in the center of Manchester’s retail corridor.
The Plaza at Buckland Hills, where the property is set, has more than 313,000 square feet of space currently occupied by a number of restaurants and retailers. PVRD LLC is a newly formed realty-holding company located in Avon, Conn..
Additionally, Washington Trust board of directors declared a quarterly dividend of 32 cents per share for the quarter ending Sept. 30, 2014. That represents a three-cent increase over the dividend paid in the previous quarter and is the corporation’s third dividend increase in the past year. The dividend will be paid Oct. 15, 2014 to shareholders of record on Oct. 1, 201

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