CBL Properties announced Thursday 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 percent 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 to shareholders of record as of March 15.
“We are pleased to demonstrate our commitment to returning value to shareholders by announcing a 6.7 percent increase in the regular cash distribution, which builds on the 50 percent dividend increase in 2023,” said Stephen D.
Lebovitz, CBL’s chief executive officer. “Strong operating performance in 2023 continued to generate substantial free cash flow, enabling the company to build on our strong cash position.”