CBL & Associates Properties, Inc. Announces Increase in Quarterly Dividend for the Quarter Ending March 31, 2024, Payable on March 29, 2024
February 08, 2024 at 04:15 pm EST
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CBL & Associates Properties, Inc. announced that its Board of Directors has declared a cash dividend of $0.40 per common share for the quarter ending March 31, 2024, a 6.7% increase from the previous quarterly dividend rate. The dividend, which equates to an annual dividend payment of $1.60 per common share, is payable on March 29, 2024, to shareholders of record as of March 15, 2024.
CBL & Associates Properties, Inc. is a self-managed, self-administered, fully integrated real estate investment trust (REIT). The Company owns, develops, acquires, leases, manages, and operates various properties. Its segments include Malls and All Other. The Malls segment includes malls, lifestyle centers and outlet centers. The All Other segment includes open-air centers, outparcels, office buildings, hotels, self-storage facilities, corporate-level debt and the Management Company. The Company primarily conducts its business through CBL & Associates Limited Partnership (the Operating Partnership), which is a variable interest entity. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. It owns and manages a portfolio, which is comprised of approximately 94 properties totaling 58.5 million square feet across 22 states, including 56 enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets.