Jones Lang LaSalle

Mack-Cali Declares Quarterly Dividends
By Eric Peterson
Last updated: December 7, 2005 09:41am

(To read more on the debt and equity markets, click here.)
CRANFORD, NJ-The board of Mack-Cali Realty Corp., based here, has declared a cash dividend of $0.63 per common share for the period of October 1, 2005 through December 31, 2005, payable on January 13, 2006 to shareholders of record as of January 5, 2006. The pay-out indicates an annual rate of $2.52 per common share, according to officials of the REIT.

The company’s board also declared a cash dividend on its 8% Series C cumulative redeemable perpetual preferred stock ($25 liquidation value per depository share, each representing 1/100th of a share of preferred stock), equal to $0.50 per depository share for the period of October 15, 2005 through January 14, 2006. The dividend will be paid on January 17, 2006 to shareholders of record as of January 5, 2006.

The REIT’s current holdings stand at 271 properties, mostly office and office/flex in the Northeast. They total more than 30 million sf.