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CHATTANOOGA, Tenn. - CBL Properties (NYSE:CBL), a real estate investment trust (REIT), declared a quarterly cash dividend of $0.40 per common share for the first quarter ending March 31, 2025. The annual rate of the dividend is set at $1.60 per share, representing a notable 5.19% yield at current prices. Shareholders of record by March 13, 2025, will receive the dividend on March 31, 2025.
In addition to the regular dividend, CBL’s Board of Directors has also announced a special cash dividend of $0.80 per common share, which is also due for payment on March 31 to shareholders on record as of March 13. This special dividend is part of the company’s requirement to comply with U.S. federal income tax regulations applicable to REITs.
Stephen D. Lebovitz, CEO of CBL, remarked on the company’s performance in 2024, highlighting operational improvements, stable net operating income (NOI), and strong cash flow. The company’s financial health score on InvestingPro supports these claims, showing "GOOD" overall health with strong profitability metrics. Lebovitz also mentioned progress in improving the company’s balance sheet. According to him, these dividends reflect CBL’s commitment to sharing its value creation with its shareholders, evidenced by the company’s solid earnings per share of $1.01 over the last twelve months.
CBL Properties, headquartered in Chattanooga, Tennessee, manages a portfolio of 89 properties, comprising enclosed malls, outlet centers, lifestyle retail centers, and open-air centers across 21 states, totaling 56.2 million square feet.
The company aims to strengthen its portfolio through active management, aggressive leasing, and profitable reinvestment in its properties.
This dividend announcement is based on a press release statement from CBL Properties and may contain forward-looking statements subject to risks and uncertainties. The actual future financial and other events may differ from those projected. More detailed information on these risks can be found in the company’s filings with the Securities and Exchange Commission.
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