SOUTHFIELD, MI-Ramco-Gershenson declares a third quarter dividend of $0.42 a share. Shares of the company have been trading in the $25.00-$25.50 range this week, just below their 52-week high of $25.95.

HOUGHTON, MI-The state has capped a $12.5-million, 6,000-plus-acre land purchase in the Keweenaw Peninsula from a paper company. The land is undeveloped.

TAYLOR, MI-Arbor Commercial reports it has funded a $2.6 million loan at a rate of 5.78% for a 197-unit cooperative.

DETROIT-The state could name a new director of the Michigan Economic Development Corp. as early as this week, a state official tells GlobeSt.com.

DETROIT-A Wayne State University executive has been named CEO of the organization charged with redeveloping the Detroit Riverfront. Meanwhile, the Detroit/Wayne County Port Authority says it plans to complete a deal with General Motors next month to buy land for a two-story port terminal, along the Detroit River.

BLOOMFIELD HILLS, MI-Taubman Center to pay 26-cent dividend on common stock. Taubman's common shares fell eight cents to $20.15 in trading Sept. 9 on the New York Stock Exchange.

BINGHAM FARMS, MI-Malan Realty will pay a 51-cent cash dividend. The company, a self-administered real estate investment trust, will make the distribution in order to maintain the company's status as a real estate investment trust (REIT) under federal tax laws.

SOUTHFIELD, MI-Two retailers lease final 35,000 sf available in 650,000 sf Tel-Twelve Mall.