MAC Macerich Co

The Macerich Company Declares Its Quarterly Dividend SANTA MONICA, Calif., April 29 /PRNewswire-FirstCall/ -- The Board of Directors of The Macerich Company declared a quarterly dividend of $0.61 per share of common stock to stockholders of record on May 20, 2004. In addition, Macerich declared a dividend of $0.61 per share on its Series A Cumulative Preferred Stock. The dividends are payable on June 10, 2004. Based on yesterday's closing stock price, the dividend yield on an annualized basis is 5.7%. 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 60 million square feet of gross leaseable area consisting primarily of interests in 59 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, both of The Macerich Company, +1-310-394-6000 Web site: http://www.macerich.com/

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