SANTA MONICA, Calif., June 17 /PRNewswire-FirstCall/ -- The Macerich
Company ("Macerich") (NYSE: MAC) announced today the results of stockholder
elections relating to its quarterly dividend declared by its Board of
Directors on May 1, 2009. The dividend of $0.60 per share of the Company's
common stock, par value $0.01 per share (the "Common Stock"), consisting of a
combination of cash and shares of Common Stock, will be paid on June 22, 2009
to stockholders of record on May 11, 2009.
Based on stockholder elections, the dividend will be paid in the form of
approximately $4.6 million in cash and approximately 2.1 million shares of
Common Sock. 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 June 10,
June 11 and June 12, 2009, or $19.9927 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 $0.06534 per share in cash and
$0.53466 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 87%
ownership interest in The Macerich Partnership, L.P.Macerich now owns
approximately 76 million square feet of gross leaseable area consisting
primarily of interests in 72 regional malls. Additional information about
Macerich can be obtained from the Company's Web site at www.macerich.com.
SOURCE The Macerich Company
CONTACT: Arthur Coppola, Chairman and Chief Executive Officer, or Thomas
E. O'Hern, Senior Executive Vice President and Chief Financial Officer, both
of The Macerich Company, +1-310-394-6000
Web Site: http://www.macerich.com
