SANTA MONICA, Calif., April 30 /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 June 8, 2010 to stockholders of record at the close of business on May 10, 2010. This represents the Company's return to a 100% cash dividend and is a 4.4% 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. The Company is the sole general partner and owns a 91% ownership interest in The Macerich Partnership, L.P. Macerich now owns approximately 74 million square feet of gross leasable 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