The pay-out is the company's seventh consecutive annual dividend increase, Taubman officials claim. The common dividend is payable Jan. 21 to shareholders of record at the end of the year.
The board also declared a regular quarterly dividend of $0.51875 per share on its Series A cumulative preferred shares. The preferred dividend will be payable on Dec. 31 to shareholders of record on Dec. 20.
The REIT owns, develops, acquires and operates urban and suburban shopping centers from coast to coast. Indianapolis-based Simon Property Group Inc.'s $18-per-share offer to buy Taubman, a $1.1-billion deal, was rejected last week by the smaller REIT.
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