How to Add an Update-able Text Field ?

Hello and thanks in advance.

I have three paragraphs of text that I want to appear on many WordPress pages — at least a dozen pages. This text is often updated; I don’t want to have to make changes on every page.

It can be done with Tables:
Using the plug-in WP Tables Reloaded, I can create a table, and then (on the WordPress page) simply add a short snipped of code for that table … And then whenever I update the table, all instances are updated.

Is there something similar to that system that I can use to add some text — the three paragraphs of text — which I can update in one place, so that all the other web pages will automatically be updated?

Thanks again,

Zorba the Geek