Parkway Announces First Quarter 2011 Dividend

JACKSON, Miss., Feb. 15, 2011 /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) announced today that its Board of Directors declared a quarterly dividend of seven point five cents ($0.075) per share payable on March 30, 2011, to shareholders of record of Common Stock on March 16, 2011.  This dividend is the ninety-eighth (98th) consecutive quarterly distribution to Parkway's shareholders of Common Stock and represents an annualized dividend rate of $0.30 per share.

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The Board of Directors also declared a quarterly dividend of fifty cents ($0.50) per share payable on April 15, 2011, to shareholders of record of Series D Preferred Stock on March 31, 2011.

Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a self-administered real estate investment trust specializing in the operation, leasing, acquisition, and ownership of office properties. The Company is geographically focused on the Southeastern and Southwestern United States and Chicago. Parkway owns or has an interest in 65 office properties located in 11 states with an aggregate of approximately 13.7 million square feet of leasable space at February 15, 2011.  Included in the portfolio are 20 properties totaling 4.1 million square feet that are owned jointly with other investors, representing 30.3% of the portfolio.  Fee-based real estate services are offered through the Company's wholly-owned subsidiary, Parkway Realty Services, which also manages and/or leases approximately 1.6 million square feet for third-party owners at February 15, 2011.

Parkway Properties, Inc.'s press releases and additional information about the Company are available on the Company's website at www.pky.com.

SOURCE Parkway Properties, Inc.