SANTA MONICA, Calif., Oct. 27, 2011 /PRNewswire via COMTEX/ --
The Board of Directors of The Macerich Company (NYSE: MAC) declared a quarterly cash dividend of $.55 per share of common stock. This represents a 10% increase over the prior dividend. The dividend is payable on December 8, 2011 to stockholders of record at the close of business on November 11, 2011. On an annualized basis, the new dividend has a 4.4% yield based on today's closing share 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 72 million square feet of gross leaseable area consisting primarily of interests in 71 regional centers. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.
SOURCE Macerich Company