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Press release from CNW Group

Morguard Corporation Declares Regular Quarterly Dividend

Tuesday, May 15, 2012

Morguard Corporation Declares Regular Quarterly Dividend14:44 EDT Tuesday, May 15, 2012MISSISSAUGA, ON, May 15, 2012 /CNW/ - Morguard Corporation (MRC:TSX) announced today at its annual meeting of shareholders that its Board declared a $0.15 per share quarterly dividend on its common shares payable on June 29, 2012 to shareholders of record as at June 15, 2012.Morguard Corporation is a real estate company which owns a diversified portfolio of 100 retail, multi-unit residential, office and industrial properties comprising 10,509 multi-unit residential suites and approximately 7.1 million square feet of commercial leasable space.  Morguard Corporation also owns a 44.8% interest in Morguard Real Estate Investment Trust and a 67.6% effective interest in Morguard North American Residential Real Estate Investment Trust. Morguard provides advisory and management services to institutional and other investors through Morguard Investments Limited and Morguard Residential.  For more information, visit the Company's website at www.morguard.com.For further information: Paul Miatello, Chief Financial Officer Tel:  905.281.3800 Fax:  905.281.5890 pmiatello@morguard.com www.morguard.com  Beverley G. Flynn, Secretary Tel:  905.281.3800 Fax:  905.281.5890 bflynn@morguard.com www.morguard.com