CBL & Associates Properties Announces 6.5% Increase in Common Dividend Distribution to Annual Rate of $0.98 Per Share
26 November 2013 - 8:01AM
Business Wire
Announcement Marks Fourth Consecutive Year
of Common Dividend Increase
CBL & Associates Properties, Inc. (NYSE: CBL) today
announced that its Board of Directors has declared a 6.5% increase
in the quarterly cash dividend for the Company’s Common Stock to
$0.245 per share for the quarter ending December 31, 2013. The
increased quarterly dividend represents an annualized dividend rate
of $0.98 per share compared with the previous annualized dividend
rate of $0.92 per share. The dividend is payable on January 15,
2014, to shareholders of record as of December 30, 2013.
The Board also declared a quarterly cash dividend of $0.4609375
per depositary share for the quarter ending December 31, 2013, for
the Company's 7.375% Series D Cumulative Redeemable Preferred
Stock. The dividend, which equates to an annual dividend payment of
$1.84375 per depositary share, is payable on December 30, 2013, to
shareholders of record as of December 13, 2013.
The Board also declared a quarterly cash dividend of $0.4140625
per depositary share for the quarter ending December 31, 2013, for
the Company's 6.625% Series E Cumulative Redeemable Preferred
Stock. The dividend, which equates to an annual dividend payment of
$1.65625 per depositary share, is payable on December 30, 2013, to
shareholders of record as of December 13, 2013.
About CBL & Associates Properties,
Inc.
CBL is one of the largest and most active owners and developers
of malls and shopping centers in the United States. CBL owns, holds
interests in or manages 155 properties, including 96 regional
malls/open-air centers. The properties are located in 30 states and
total 90.7 million square feet including 10.7 million square feet
of non-owned shopping centers managed for third parties.
Headquartered in Chattanooga, TN, CBL has regional offices in
Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO.
Additional information can be found at cblproperties.com.
Information included herein contains "forward-looking
statements" within the meaning of the federal securities laws. Such
statements are inherently subject to risks and uncertainties, many
of which cannot be predicted with accuracy and some of which might
not even be anticipated. Future events and actual events, financial
and otherwise, may differ materially from the events and results
discussed in the forward-looking statements. The reader is directed
to the Company's various filings with the Securities and Exchange
Commission, including without limitation the Company's Annual
Report on Form 10-K and the "Management's Discussion and Analysis
of Financial Condition and Results of Operations" incorporated by
reference therein, for a discussion of such risks and
uncertainties.
CBL & Associates Properties, Inc.Katie Reinsmidt,
423-490-8301Senior Vice President - Investor Relations/Corporate
Investmentskatie_reinsmidt@cblproperties.com
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