Cousins Properties Announces Results of First Quarter Dividend Elections
March 11 2010 - 4:00PM
Business Wire
Cousins Properties Incorporated (NYSE: CUZ) announced today the
results of the shareholders’ elections relating to Cousins’ first
quarter common stock dividend of $0.09 per share declared by its
Board of Directors on January 15, 2010.
The dividend will consist of approximately $2,997,000 in cash
and 820,000 shares of common stock. The amount of cash elected to
be received was greater than the cash limit of 33.34% of the total
value of the dividend or approximately $2,997,000, and therefore,
shareholders who elected to receive all cash will receive a
combination of cash and stock. The number of shares included in the
dividend is calculated based on the $7.30 average closing price per
share of Cousins’ common stock on the New York Stock Exchange on
March 3, March 4 and March 5, 2010. The dividend of $0.09 per share
will be paid as follows:
- to shareholders electing to
receive the dividend in all stock, Cousins will pay the entire
dividend in common stock;
- to shareholders either electing
to receive the dividend in all cash or failing to make an election,
Cousins will pay the dividend in the form of $0.034663 per share in
cash and $0.055337 per share in common stock; and
- Cousins will pay fractional
shares in cash.
Registered shareholders with questions regarding the dividend
election may call American Stock Transfer & Trust Co., Cousins’
transfer agent, at 1-800-937-5449. If your shares are held through
a bank, broker or nominee and you have questions regarding the
dividend election, please contact your bank, broker or nominee.
The issuance of approximately 820,000 shares of Cousins’ common
stock pursuant to this dividend resulted in an effective increase
of 0.0082% in shares of common stock outstanding on the record date
of February 1, 2010.
About Cousins Properties
Cousins Properties Incorporated is a leading diversified real
estate company with extensive experience in development,
acquisition, financing, management and leasing. Based in Atlanta,
the Company actively invests in office, multi-family, retail, and
land development projects. Since its founding in 1958, Cousins has
developed 20 million square feet of office space, 20 million square
feet of retail space, more than 3,500 multi-family units and more
than 60 single-family neighborhoods. The Company is a fully
integrated equity real estate investment trust (REIT) and trades on
the New York Stock Exchange under the symbol CUZ. For more, please
visit www.cousinsproperties.com.
This press release does not constitute an offer of any
securities for sale. Certain matters discussed in this press
release are forward-looking statements within the meaning of the
federal securities laws and are subject to uncertainties and risk
and actual results may differ materially from projections. Readers
should carefully review Cousins’ financial statements and notes
thereto, as well as the risk factors described in Part I, Item 1A
of the Company’s Annual Report on Form 10-K for the year ended
December 31, 2009 and other documents Cousins files from time to
time with the Securities and Exchange Commission. Such
forward-looking statements are based on current expectations and
speak as of the date of such statements. The Company undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of future events, new information or
otherwise.
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