The Macerich Company Declares an Increase in Its Quarterly Dividend
October 30 2003 - 6:00AM
PR Newswire (US)
The Macerich Company Declares an Increase in Its Quarterly Dividend
SANTA MONICA, Calif., Oct. 30 /PRNewswire-FirstCall/ -- The Board
of Directors of The Macerich Company declared an increased
quarterly dividend of $0.61 per share of common stock to
stockholders of record on November 15, 2003. This represents a 7%
increase over the prior dividend. Macerich has increased its
dividend each year since becoming a public company in 1994. Based
on yesterday's closing price of $39.70, the annualized dividend
yield is 6.15%. In addition, Macerich declared a dividend of $0.61
per share on its Series A Cumulative Preferred Stock. The dividends
are payable on December 9, 2003. The Macerich Company 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 82% ownership interest in The Macerich
Partnership, L.P. Macerich now owns approximately 58 million square
feet of gross leasable area consisting primarily of interests in 57
regional malls. Additional information about The Macerich Company
can be obtained from the Company's web site at
http://www.macerich.com/ . DATASOURCE: The Macerich Company
CONTACT: Arthur Coppola, President and Chief Executive Officer, or
Thomas O'Hern, Executive Vice President and Chief Financial
Officer, +1-310-394-6000, both of The Macerich Company Web site:
http://www.macerich.com/
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