Based on stockholder elections, the dividend will be paid in the form of approximately $5.7 million in cash and approximately 1.7 million shares of Common Stock. The number of shares included in the dividend was calculated based on the volume weighted average of the trading prices of Macerich's common stock on the New York Stock Exchange for the three-day period December 9, December 10 and December 11, 2009, or $30.16 per share. Summarized results of the dividend elections are as follows:
-- To stockholders electing to receive the dividend in all stock, Macerich
will pay the dividend in shares of Common Stock.
-- To stockholders electing to receive the dividend in all cash, Macerich
will pay the dividend in the form of $0.06520 per share in cash and
$0.53480 per share in Common Stock.
-- To stockholders not making an election, Macerich will pay the dividend
in the form of $0.06 per share in cash and $0.54 per share in Common
Stock.
-- Macerich will pay fractional shares in cash.
If your shares are held through a bank, broker or nominee, and you have questions regarding the dividend, please contact such bank, broker or nominee. If you are a registered stockholder and you have questions regarding the dividend, you may call Macerich's transfer agent, Computershare Trust Company, N.A., at (800) 756-8200.
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 an 89% ownership interest in The Macerich Partnership, L.P. Macerich now owns approximately 75 million square feet of gross leaseable area consisting primarily of interests in 72 regional malls.
SOURCE The Macerich Company
http://www.macerich.com