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Malan Dividend Down Almost Half

BINGHAM FARMS, MI-The retail REIT is paying out 25 cents per share compared to 42 1/2 cents per share last year. The company is also selling three properties to assist with debt and lawsuit expenses.

By Robert Carr | Updated on December 07, 2001

BINGHAM FARMS, MI-Bingham Farms, MI-based Malan Realty Investors Inc. has declared a cash dividend of 25 cents per share for the quarter ending Dec. 31, payable Jan. 22 to shareholders of record on Dec. 31.

The amount is almost half the dividend paid in December 2000, when the company paid out 42 1/2 cents per share.Lawsuits and a board shakeup have forced the REIT to cut costs.

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