CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE: CBL) today announced that
pursuant to the 2009 Common Stock dividend policy of paying the minimum
level required to distribute 100% of the Company's estimated taxable
income, the Board has declared a quarterly cash dividend for the
Company's Common Stock of $0.05 per share for the quarter ending
September 30, 2009. The dividend is payable on October 15, 2009, to
shareholders of record as of September 30, 2009. The Board intends to
pay the dividend in cash. Future dividend payments will be determined by
the Company's Board of Directors based upon circumstances at the time of
declaration.
The Board also declared a quarterly cash dividend of $0.484375 per
depositary share for the quarter ending September 30, 2009, 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 30, 2009, to shareholders of
record as of September 16, 2009.
The Board also declared a quarterly cash dividend of $0.4609375 per
depositary share for the quarter ending September 30, 2009, 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 30, 2009, to shareholders of
record as of September 16, 2009.
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 160 properties, including 88 regional malls/open-air centers.
The properties are located in 27 states and total 86.4 million square
feet including 2.2 million square feet of non-owned shopping centers
managed for third parties. CBL currently has four projects under
construction totaling 2.3 million square feet including Settlers Ridge
in Pittsburgh, PA; The Pavilion at Port Orange in Port Orange, FL; The
Promenade in D'Iberville (Biloxi/Gulfport), MS; and one community
center. Headquartered in Chattanooga, TN, CBL has regional offices in
Boston (Waltham), MA, Dallas, 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.
Source: CBL & Associates Properties, Inc.
Contact: CBL & Associates Properties, Inc.
Investor Contact:
Katie Reinsmidt, 423-490-8301
Vice President - Corporate Communications and Investor Relations
katie_reinsmidt@cblproperties.com