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Press release from Business Wire

General Growth Properties, Inc. Declares Common Share Dividend

Tuesday, March 29, 2011

General Growth Properties, Inc. Declares Common Share Dividend19:50 EDT Tuesday, March 29, 2011 CHICAGO (Business Wire) -- General Growth Properties, Inc. (NYSE: GGP) (“GGP” or the “Company”) today declared a Common Share Dividend for the first quarter 2011 of $0.10 per share, payable on April 29, 2011, to shareholders of record on April 15, 2011. GGP today also announced the implementation of its previously announced Dividend Reinvestment Plan (“DRIP”). The DRIP provides eligible holders of GGP's common stock with a convenient method of increasing their investment in the Company by reinvesting all or a portion of cash dividends in additional shares of common stock. Eligible shareholders who enroll in the DRIP on or before the fourth business day preceding the record date for a dividend payment will be able to have that dividend reinvested. Registered shareholders whose enrollment forms are submitted in accordance with the DRIP by April 11, 2011, can have their first quarter 2011 dividend reinvested in GGP common shares. The DRIP is administered by The Bank of New York Mellon. Information concerning the DRIP is available on the Company's website at www.GGP.com. The DRIP prospectus and information concerning how to enroll may be obtained by contacting The Bank of New York Mellon at: The Bank of New York Mellon Attention: GGP Dividend Reinvestment Plan P.O. Box 358035 Pittsburgh, PA 15252-8035 U.S & Canada Toll Free: 1 (888) 395-8037 International Telephone Inquiries: 1 (201) 680-6578 For the Hearing Impaired (TDD): 1 (800) 231-5469   GGP has received commitments from select major shareholders to participate in the DRIP (Brookfield Asset Management Inc., Pershing Square and Blackstone), subject to regulatory and other requirements. The GGP board of directors reviews the dividend on an ongoing basis, taking into account overall liquidity, investment opportunities and tax considerations as it relates to the amount of the dividend. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Company's securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. FORWARD LOOKING STATEMENTS This press release contains forward-looking statements. Actual results may differ materially from the results suggested by these forward-looking statements, for a number of reasons, including, but not limited to, our ability to refinance, extend, restructure or repay our remaining debt (including that of our Unconsolidated Real Estate Affiliates) with maturities in the short to intermediate term, our ability to raise capital through equity issuances, asset sales or the incurrence of new debt, retail and credit market conditions, impairments, our liquidity demands and retail and economic conditions. Readers are referred to the documents filed by GGP with the Securities and Exchange Commission, which further identify the important risk factors that could cause actual results to differ materially from the forward-looking statements in this release. The Company disclaims any obligation to update any forward-looking statements. ABOUT GGP General Growth Properties has ownership and management interest in more than 170 regional and super regional shopping malls in 43 states. The Company portfolio totals 174 million square feet of retail space. A publicly-traded real estate investment trust (REIT), GGP is listed on the New York Stock Exchange under the symbol GGP. General Growth Properties, Inc.David Keating, (312) 960-6325vice president of corporate communicationsdavid.keating@ggp.com