Macerich Declares Quarterly Cash Dividend on Common Shares
SANTA MONICA, Calif., Oct. 29 /PRNewswire-FirstCall/ -- The Board of Directors of The Macerich Company (NYSE: MAC) declared a quarterly cash dividend of $.50 per share of common stock. The dividend is payable on December 8, 2010 to stockholders of record at the close of business on November 12, 2010. This represents a 4.57% annualized dividend yield based on yesterday's closing price.
Macerich is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich owns approximately 73 million square feet of gross leaseable area consisting primarily of interests in 71 regional malls. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.
SOURCE The Macerich Company