SANTA MONICA, Calif.,
July 24, 2020 /PRNewswire/
-- The Board of Directors of the Macerich Company (NYSE: MAC)
declared a quarterly cash dividend of $.15 per share of common stock. The
dividend is payable on September 8,
2020 to stockholders of record at the close of business on
August 19, 2020. "The Board's
decision to reduce the dividend allows us to preserve liquidity and
financial flexibility in the continued uncertain economic
environment resulting from the COVID-19 pandemic. The Board will
continue to re-evaluate the Company's prospective dividend policy
each quarter," said Thomas O'Hern,
Chief Executive Officer.
Macerich, is a fully integrated self-managed and
self-administered real estate investment trust (REIT), which
focuses on the acquisition, leasing, management, development and
redevelopment of regional malls throughout the United
States.
Macerich currently owns 51 million square feet of real
estate consisting primarily of interests in 47 regional shopping
centers. Macerich specializes in successful retail
properties in many of the country's most attractive, densely
populated markets with significant presence in the West
Coast, Arizona, Chicago and the Metro New York
to Washington, DC corridor. A recognized leader in
sustainability, Macerich has achieved the #1 GRESB
ranking in the North American Retail Sector for five straight years
2015 – 2019. Additional information about Macerich can be
obtained from the Company's website at www.Macerich.com.
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SOURCE Macerich Company