Taubman Centers Declares Common and Preferred Dividends
December 06 2018 - 01:33PM
Business Wire
Taubman Centers, Inc. (NYSE: TCO) today declared a regular
quarterly dividend of $0.655 per share of common stock. The common
dividend is payable December 31, 2018, to shareholders of record on
December 17, 2018.
The Board of Directors also declared quarterly dividends of
$0.40625 on its 6.5% Series J Cumulative Preferred Shares (NYSE:
TCO PR J) and $0.390625 on its 6.25% Series K Cumulative Preferred
Shares (NYSE: TCO PR K). The preferred dividends will be payable
December 31, 2018, to shareholders of record on December 17,
2018.
About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment
Trust engaged in the ownership, management and/or leasing of 26
regional, super-regional and outlet shopping centers in the U.S.
and Asia. Taubman’s U.S.-owned properties are the most productive
in the publicly held U.S. regional mall industry. Founded in 1950,
Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia,
founded in 2005, is headquartered in Hong Kong.
www.taubman.com.
For ease of use, references in this press release to “Taubman
Centers,” “company,” “Taubman” or an operating platform mean
Taubman Centers, Inc. and/or one or more of a number of separate,
affiliated entities. Business is actually conducted by an
affiliated entity rather than Taubman Centers, Inc. itself or the
named operating platform.
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements reflect management's current views with
respect to future events and financial performance. Forward-looking
statements can be identified by words such as “will”, “may”,
“could”, “expect”, “anticipate”, “believes”, “intends”, “should”,
“plans”, “estimates”, “approximate”, “guidance” and similar
expressions in this press release that predict or indicate future
events and trends and that do not report historical matters. The
forward-looking statements included in this release are made as of
the date hereof. Except as required by law, the company assumes no
obligation to update these forward-looking statements, even if new
information becomes available in the future. Actual results may
differ materially from those expected because of various risks,
uncertainties and other factors. Such factors include, but are not
limited to: changes in market rental rates; unscheduled closings or
bankruptcies of tenants; relationships with anchor tenants; trends
in the retail industry; challenges with department stores; changes
in consumer shopping behavior; the liquidity of real estate
investments; the company’s ability to comply with debt covenants;
the availability and terms of financings; changes in market rates
of interest and foreign exchange rates for foreign currencies;
changes in value of investments in foreign entities; the ability to
hedge interest rate and currency risk; risks related to acquiring,
developing, expanding, leasing and managing properties; competitors
gaining economies of scale through M&A and consolidation
activity; changes in value of investments in foreign entities;
risks related to joint venture properties; insurance costs and
coverage; security breaches that could impact the company’s
information technology, infrastructure or personal data; costs
associated with response to technology breaches; the loss of key
management personnel; shareholder activism costs and related
diversion of management time; terrorist activities; maintaining the
company’s status as a real estate investment trust; changes in the
laws of states, localities, and foreign jurisdictions that may
increase taxes on the company’s operations; and changes in global,
national, regional and/or local economic and geopolitical climates.
You should review the company's filings with the Securities and
Exchange Commission, including “Risk Factors” in its most recent
Annual Report on Form 10-K and subsequent quarterly reports, for a
discussion of such risks and uncertainties.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181206005807/en/
Erik Wright, Taubman, Manager, Investor Relations,
248-258-7390ewright@taubman.com
Maria Mainville, Taubman, Director, Strategic Communications,
248-258-7469mmainville@taubman.com
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