CBL Properties on Monday announced that its Board of Directors has declared a cash dividend of $0.45 per common share for the quarter ending Sept. 30, a 12.5 percent increase from the previous quarterly dividend rate.
The dividend, which equates to an annual dividend payment of $1.80 per common share, is payable on Sept. 30 to shareholders of record as of Sept. 15.
“We are pleased to be able to share the immediate accretion of our recent portfolio acquisition with our shareholders through this dividend increase, which builds on the $0.80 per share special dividend paid in March,” said Stephen D.
Lebovitz, CBL’s chief executive officer.