CBL & Associates Properties Declares Common and Preferred Stock Dividends
December 02 2009 - 4:00PM
Business Wire
CBL & Associates Properties, Inc. (NYSE: CBL) today
announced that pursuant to the 2009 Common Stock dividend policy of
paying the minimum level required to distribute 100% of the
Company’s estimated taxable income, the Board has declared a
quarterly cash dividend for the Company’s Common Stock of $0.05 per
share for the quarter ending December 31, 2009. The dividend is
payable on January 15, 2010, to shareholders of record as of
December 30, 2009.
The Board also declared a quarterly cash dividend of $0.484375
per depositary share for the quarter ending December 31, 2009, for
the Company’s 7.75% Series C Cumulative Redeemable Preferred Stock.
The dividend, which equates to an annual dividend payment of
$1.9375 per depositary share, is payable on December 30, 2009, to
shareholders of record as of December 17, 2009.
The Board also declared a quarterly cash dividend of $0.4609375
per depositary share for the quarter ending December 31, 2009, for
the Company’s 7.375% Series D Cumulative Redeemable Preferred
Stock. The dividend, which equates to an annual dividend payment of
$1.84375 per depositary share, is payable on December 30, 2009, to
shareholders of record as of December 17, 2009.
About CBL & Associates
Properties, Inc.
CBL is one of the largest and most active owners and developers
of malls and shopping centers in the United States. CBL owns, holds
interests in or manages 163 properties, including 88 regional
malls/open-air centers. The properties are located in 27 states and
total 87.8 million square feet including 3.0 million square feet of
non-owned shopping centers managed for third parties. CBL currently
has one project under construction totaling 500,000 square feet,
The Pavilion at Port Orange in Port Orange, FL. Headquartered in
Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA,
Dallas (Irving), TX, and St. Louis, MO. Additional information can
be found at cblproperties.com.
Information included herein contains "forward-looking
statements" within the meaning of the federal securities laws. Such
statements are inherently subject to risks and uncertainties, many
of which cannot be predicted with accuracy and some of which might
not even be anticipated. Future events and actual events, financial
and otherwise, may differ materially from the events and results
discussed in the forward-looking statements. The reader is directed
to the Company's various filings with the Securities and Exchange
Commission, including without limitation the Company's Annual
Report on Form 10-K and the "Management's Discussion and Analysis
of Financial Condition and Results of Operations" incorporated by
reference therein, for a discussion of such risks and
uncertainties.
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