(To read more on the debt and equity markets, click here.)
CRANFORD, NJ-The board of directors of Mack-Cali Realty Corp. has approved a cash dividend of $0.63 per common share, indicating an annual rate of $2.52 per common share, for the period of January 1 through March 31, 2006. The dividend will be paid on April 17, 2006 to shareholders of record as of April 5.
The REIT's board has also declared a cash dividend on its 8% Series C cumulative redeemable perpetual preferred stock ($25 liquidation value per depositary share, each representing 1/100th of a share of preferred stock) equal to $0.50 per depositary share for the period of January 15, 2006 through April 14, 2006. The dividend will be paid on April 17 to shareholders of record as of April 5.
Mack-Cali Realty has an agreement to buy Gale Real Estate Services Co. and full or half interests in 2.8 million sf of that company's office properties in New Jersey in a deal valued at $545 million. That deal is expected to close as early as next month.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.