CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Sept. 6, 2006--
CBL & Associates Properties, Inc. (NYSE:CBL) today
announced that its Board of Directors has declared a regular quarterly
cash dividend for the Company's Common Stock of $0.4575 per share for
the quarter ending September 30, 2006. The dividend, which equates to
an annual rate of $1.83 per share, is payable on October 17, 2006, to
shareholders of record as of September 29, 2006.
The Board declared a quarterly cash dividend of $1.09375 per share
for the quarter ending September 30, 2006, for the Company's 8.75%
Series B Cumulative Redeemable Preferred Stock. The dividend, which
equates to an annual dividend payment of $4.375 per share, is payable
on September 29, 2006, to shareholders of record as of September 15,
2006.
The Board declared a quarterly cash dividend of $0.484375 per
depositary share for the quarter ending September 30, 2006, for the
Company's 7.75% Series C Cumulative Redeemable Preferred Stock. The
dividend, which equates to an annual dividend payment of $1.9375 per
depositary share, is payable on September 29, 2006, to shareholders of
record as of September 15, 2006.
The Board also declared a quarterly cash dividend of $0.4609375
per depositary share for the quarter ending September 30, 2006, 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 September 29, 2006, to
shareholders of record as of September 15, 2006.
About CBL
CBL is one of the largest and most experienced owners and
developers of malls and shopping centers in the country. CBL owns,
holds interests in or manages 126 properties, including 79 regional
malls/open-air centers. The properties are located in 26 states and
total 72.7 million square feet including 1.6 million square feet of
non-owned shopping centers managed for third parties. Including Phase
II of Gulf Coast Town Center in Ft. Myers, FL, CBL currently has
eleven projects under construction totaling 2.8 million square feet.
Other projects include two open-air shopping centers; two community
centers, four associated/lifestyle centers and two mall expansions.
Headquartered in Chattanooga, TN, CBL has regional offices in Boston
(Waltham), MA, and Dallas, TX. Additional information can be found at
http://cblproperties.com.
Source: CBL & Associates Properties, Inc.
Contact: CBL & Associates Properties Inc., Chattanooga
Investor Relations: Katie Reinsmidt, 423-490-8301