ATLANTA, GA--Cousins Properties Incorporated (NYSE: CUZ) announced today that Tom G. Charlesworth, (top right photo) 60, has been elected to the Board of Directors.
Mr. Charlesworth is the Company’s former executive vice president and chief investment officer, having retired from the Company in 2006. During his 15-year tenure at Cousins, Mr. Charlesworth held several senior management positions at the Company, including chief financial officer and general counsel.
“Tom Charlesworth has been an integral contributor to the growth of Cousins over the years. We are thankful he has agreed to come out of retirement to serve on the Board,” noted Larry Gellerstedt, (top right photo) President and CEO of Cousins.
Cousins Properties Announces Results of Fourth Quarter Dividend Elections
ATLANTA--Cousins Properties Incorporated (NYSE: CUZ) announced the results of the shareholders’ elections relating to Cousins’ fourth quarter common stock dividend of $0.09 per share declared by its Board of Directors on October 15, 2009.
The dividend will consist of approximately $3.0 million in cash and 816,000 shares of common stock.
The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend or approximately $3.0 million, and therefore, shareholders who elected to receive all cash will receive a combination of cash and stock.
The number of shares included in the dividend is calculated based on the $7.2733 average closing price per share of Cousins’ common stock on the New York Stock Exchange on December 1, December 2, and December 3, 2009. The dividend of $0.09 per share will be paid as follows:
to shareholders electing to receive the dividend in all stock, Cousins will pay the entire dividend in common stock;
to shareholders either electing to receive the dividend in all cash or failing to make an election, Cousins will pay the dividend in the form of $0.033 per share in cash and $0.057 per share in common stock; and
Cousins will pay fractional shares in cash.
Registered shareholders with questions regarding the dividend election may call American Stock Transfer & Trust Co., Cousins’ transfer agent, at 1-800-937-5449.
If your shares are held through a bank, broker or nominee and you have questions regarding the dividend election, please contact your bank, broker or nominee.
The issuance of approximately 816,000 shares of Cousins’ common stock pursuant to this dividend resulted in an effective increase of 0.8% in shares of common stock outstanding on the record date of October 26, 2009. Share and per share information will be adjusted in subsequent financial information, beginning with Cousins’ year end earnings release, to reflect this increase in shares of common stock.
Contact: Cameron Golden, mailto:camerongolden@cousinsproperties.com
http://www.cousinsproperties.com/
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