Mack-Cali Realty Corporation Declares Dividend and Provides Quarterly Update

Strategic Insights -

Mack-Cali Realty Corporation, a leading real estate investment trust (REIT), has announced the declaration of a cash dividend of $0.64 per common share, representing an annual rate of $2.56 per common share, for the period from October 1, 2006 through December 31, 2006. The dividend will be paid on January 12, 2007, to shareholders of record as of January 4, 2007. The company also declared a cash dividend on its 8 percent Series C cumulative redeemable perpetual preferred stock, equal to $0.50 per depositary share, for the period from October 15, 2006 through January 14, 2007.

The dividend declarations come as Mack-Cali Realty Corporation continues to provide a full complement of real estate opportunities to its diverse base of approximately 2,500 tenants. The company owns or has interests in 301 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.3 million square feet.

Key Takeaways:

  • Mack-Cali Realty Corporation declared a cash dividend of $0.64 per common share, representing an annual rate of $2.56 per common share, for the period from October 1, 2006 through December 31, 2006.
  • The dividend will be paid on January 12, 2007, to shareholders of record as of January 4, 2007.
  • The company also declared a cash dividend on its 8 percent Series C cumulative redeemable perpetual preferred stock, equal to $0.50 per depositary share, for the period from October 15, 2006 through January 14, 2007.
  • The dividend will be paid on January 16, 2007, to shareholders of record as of January 4, 2007.
  • Mack-Cali Realty Corporation owns or has interests in 301 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.3 million square feet.
  • The company provides a full complement of real estate opportunities to its diverse base of approximately 2,500 tenants.
  • The company's annualized revenue is approximately $234.6 million, based on 2006 annualized gross revenue.

Statistics:

  • $0.64 per common share annual rate
  • $2.56 per common share annual rate
  • $0.50 per depositary share dividend on 8 percent Series C cumulative redeemable perpetual preferred stock
  • 301 properties owned or in interest by the company
  • Approximately 34.3 million square feet of property owned or in interest by the company
  • Approximately 2,500 tenants served by the company
  • Annualized revenue of approximately $234.6 million, based on 2006 annualized gross revenue

Sources:

  • Mack-Cali Realty Corporation. (2006). Press Release: Mack-Cali Realty Corporation Announces Quarterly Dividend.
  • Mack-Cali Realty Corporation. (2006). Form 10-K Annual Report.