Jones Lang LaSalle

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Last updated: June 23, 2006 11:18am
Mack-Cali Declares Cash Dividend
By Eric Peterson

CRANFORD, NJ-The board of directors of Mack-Cali Realty Corp. has declared a quarterly cash dividend of $0.63 per common share, indicating an annual rate of $2.52 per common share. The dividend is for the period of April 1, 2006 though June 30, 2006, and will be paid on July 17 to shareholders of record as of July 6.

The REIT’s board has also declared a cash dividend on its 8% Series C cumulative redeemable perpetual preferred stock ($25 liquidation value per depositary share, each representing 1/100th of a share of preferred stock), equal to $0.50 per depositary share for the period April 15, 2006 through July 14, 2006. The dividend will similarly be paid on July 17 to shareholders of record as of July 6.

Mack-Cali’s holdings now total 304 properties, mostly in the Northeast, adding up to approximately 34.3 million sf. That total was boosted, of course, by the REIT’s recent acquisition of a substantial portion of the Gale Co.’s office holdings.

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