General Growth Properties, Inc. Declares Common Share Dividend
March 29 2011 - 7:50PM
Business Wire
General Growth Properties, Inc. (NYSE: GGP) (“GGP” or the
“Company”) today declared a Common Share Dividend for the first
quarter 2011 of $0.10 per share, payable on April 29, 2011, to
shareholders of record on April 15, 2011. GGP today also announced
the implementation of its previously announced Dividend
Reinvestment Plan (“DRIP”). The DRIP provides eligible holders of
GGP’s common stock with a convenient method of increasing their
investment in the Company by reinvesting all or a portion of cash
dividends in additional shares of common stock.
Eligible shareholders who enroll in the DRIP on or before the
fourth business day preceding the record date for a dividend
payment will be able to have that dividend reinvested. Registered
shareholders whose enrollment forms are submitted in accordance
with the DRIP by April 11, 2011, can have their first quarter 2011
dividend reinvested in GGP common shares.
The DRIP is administered by The Bank of New York Mellon.
Information concerning the DRIP is available on the Company’s
website at www.GGP.com. The DRIP prospectus and information
concerning how to enroll may be obtained by contacting The Bank of
New York Mellon at:
The Bank of New York Mellon Attention: GGP Dividend Reinvestment
Plan P.O. Box 358035 Pittsburgh, PA 15252-8035 U.S & Canada
Toll Free: 1 (888) 395-8037 International Telephone Inquiries: 1
(201) 680-6578 For the Hearing Impaired (TDD): 1 (800) 231-5469
GGP has received commitments from select major shareholders to
participate in the DRIP (Brookfield Asset Management Inc., Pershing
Square and Blackstone), subject to regulatory and other
requirements. The GGP board of directors reviews the dividend on an
ongoing basis, taking into account overall liquidity, investment
opportunities and tax considerations as it relates to the amount of
the dividend.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of the
Company’s securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements. Actual
results may differ materially from the results suggested by these
forward-looking statements, for a number of reasons, including, but
not limited to, our ability to refinance, extend, restructure or
repay our remaining debt (including that of our Unconsolidated Real
Estate Affiliates) with maturities in the short to intermediate
term, our ability to raise capital through equity issuances, asset
sales or the incurrence of new debt, retail and credit market
conditions, impairments, our liquidity demands and retail and
economic conditions. Readers are referred to the documents filed by
GGP with the Securities and Exchange Commission, which further
identify the important risk factors that could cause actual results
to differ materially from the forward-looking statements in this
release. The Company disclaims any obligation to update any
forward-looking statements.
ABOUT GGP
General Growth Properties has ownership and management interest
in more than 170 regional and super regional shopping malls in 43
states. The Company portfolio totals 174 million square feet of
retail space. A publicly-traded real estate investment trust
(REIT), GGP is listed on the New York Stock Exchange under the
symbol GGP.
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