Merry Land reports increase

Augusta-based Merry Land & Investment Co. reported Monday that for the fourth quarter of 1996, funds from operations available to common shareholders rose to $19.7 million from $16.1 million for the same quarter of the previous year, and on a per share basis rose 8 percent.

For the full year, funds from operations available to common shareholders rose to $74.4 million in 1996 from $61.2 million in 1995, and on a per share basis rose 10 percent, to $2.02 from $1.84.

W. Tennent Houston, president and chief executive officer, said the company’s investment in apartments continues to grow steadily through both acquisitions and development, and cash flows produced by its communities have risen accordingly.

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