Taubman Centers Declares Common and Preferred Dividends

Mar 03, 2011, 14:06 ET from Taubman Centers, Inc.

BLOOMFIELD HILLS, Mich., March 3, 2011 /PRNewswire/ -- The Board of Directors of Taubman Centers, Inc. (NYSE: TCO) today declared a regular quarterly dividend of $0.4375 per share of common stock.  The common dividend is payable on March 31, 2011 to shareholders of record on March 15, 2011.

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The Board of Directors also declared a quarterly dividend of $0.50 on its Series G Cumulative Preferred Shares (NYSE: TCO Pr G), and a quarterly dividend of $0.4765625 on its Series H Cumulative Preferred Shares (NYSE: TCO Pr H).  The preferred dividends will be payable on March 31, 2011 to shareholders of record on March 15, 2011.

Taubman Centers is a real estate investment trust engaged in the development, leasing and management of regional and super regional shopping centers. Taubman's 26 U.S. owned, leased and/or managed properties, the most productive in the industry, serve major markets from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Michigan and its Taubman Asia subsidiary is headquartered in Hong Kong. Founded in 1950, Taubman celebrated its 60th anniversary in 2010.  For more information about Taubman, visit www.taubman.com.

For ease of use, references in this press release to "Taubman Centers", "company" or "Taubman" mean Taubman Centers, Inc. or one or more of a number of separate, affiliated entities.  Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to the continuing impacts of the U.S. recession and global credit environment, other changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

SOURCE Taubman Centers, Inc.