ATLANTA--Cousins Properties Incorporated (NYSE: CUZ) announced today that its Board of Directors has declared a quarterly dividend of $0.09 per share, payable December 11, 2009, to common stockholders of record as of October 26, 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.
“The Fourth Quarter dividend of 9 cents per share is consistent with last Quarter’s dividend level, after adjusting for our recent stock offering and making a conservative estimate of interest savings that will result from the proceeds of the offering,” said Jim Fleming, (top right photo) Cousins’ Chief Financial Officer. “This level still appears appropriate going forward, based on our expected taxable income in 2010.”
The Board of Directors declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable November 16, 2009, to Series A preferred stockholders of record on November 2, 2009.
The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable November 16, 2009, to Series B preferred stockholders of record on November 2, 2009.
Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com, http://www.cousinsproperties.com/
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