ATLANTA, GA-- Cousins Properties Incorporated (NYSE: CUZ) announced today that its Board of Directors has declared a quarterly dividend of $0.15 per share, payable September 16, 2009, to common stockholders of record as of August 3, 2009.The dividend will be payable in a combination of cash and shares of the Company’s common stock with the cash component of the dividend not to exceed 33.34% of the aggregate dividend amount.
“We made the decision to reduce our quarterly dividend to $0.15 based on our current estimate of taxable income,” said Larry Gellerstedt, (top right photo) Chief Executive Officer of Cousins Properties.
“The reduced dividend level, combined with the stock component of the dividend, will allow us to retain significant capital. We anticipate significant investment opportunities coming out of this downturn and continue to take the steps necessary to ensure that Cousins is well positioned to take advantage of those opportunities.”
Contact: Cameron Golden, 404-407-1984, Director of Investor Relations and Corporate Communications, camerongolden@cousinsproperties.com
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