SANTA MONICA, Calif.,
March 17 /PRNewswire-FirstCall/ --
The Macerich Company (“Macerich”) (NYSE Symbol: MAC) announced
today the results of stockholder elections relating to its
quarterly dividend declared by its Board of Directors on
February 4, 2010. The dividend of
$0.60 per share of the Company’s
common stock, par value $0.01 per
share (the “Common Stock”), consisting of a combination of cash and
shares of Common Stock, will be paid on March 22, 2010 to stockholders of record on
February 16, 2010.
Based on stockholder elections, the dividend will be paid in the
form of approximately $5.8 million in
cash and approximately 1.4 million shares of Common Stock. The
number of shares included in the dividend was calculated based on
the volume weighted average of the trading prices of Macerich’s
common stock on the New York Stock Exchange for the three-day
period March 10, March 11 and March 12,
2010, or $38.5335 per share.
Summarized results of the dividend elections are as follows:
- To stockholders electing to receive the dividend in all stock,
Macerich will pay the dividend in shares of Common Stock.
- To stockholders electing to receive the dividend in all cash,
Macerich will pay the dividend in the form of $0.06772 per share in cash and $0.53228 per share in Common Stock.
- To stockholders not making an election, Macerich will pay the
dividend in the form of $0.06 per
share in cash and $0.54 per share in
Common Stock.
- Macerich will pay fractional shares in cash.
If your shares are held through a bank, broker or nominee, and
you have questions regarding the dividend, please contact such
bank, broker or nominee. If you are a registered stockholder and
you have questions regarding the dividend, you may call Macerich’s
transfer agent, Computershare Trust Company, N.A., at (800)
756-8200.
Macerich is a fully integrated self-managed and
self-administered real estate investment trust, which focuses on
the acquisition, leasing, management, development and redevelopment
of regional malls throughout the United
States. The Company is the sole general partner and owns an
89% ownership interest in The Macerich Partnership, L.P. Macerich
now owns approximately 75 million square feet of gross leasable
area consisting primarily of interests in 72 regional malls.
SOURCE The Macerich Company