BINGHAM FARMS, Mich., March 14 /PRNewswire/ -- Malan Realty Investors,
Inc. (NYSE: MAL), a self-administered real estate investment trust (REIT),
today announced it has declared its quarterly cash dividend of $0.425 per
share for the quarter ending March 31, 2000. The dividend is payable
April 20, 2000, to shareholders of record March 31, 2000. Malan has paid
quarterly cash dividends for 23 consecutive quarters since its initial public
offering in June 1994.
The dividend of $0.425 per share equates to an annual dividend of
$1.70 per share. Based on yesterday's closing price of $12.75, the yield on
the indicated annualized rate is 13.3 percent. The company currently has
5.2 million common shares outstanding.
Malan Realty Investors, Inc. owns, acquires, redevelops and manages
properties that are leased primarily to national and regional retail
companies. The company owns a portfolio of 65 properties located in 9 states
that contains an aggregate of approximately 6.0 million square feet of GLA.
News releases for Malan Realty Investors are available through Company
News On-Call by fax at 800-758-5804, ext. 114165, or
http://www.prnewswire.com .
SOURCE Malan Realty Investors, Inc.
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CONTACT:
Michael K. Kaline, Vice President of Malan
Realty Investors, Inc., 248-644-7110, or Fred Nachman of
Corporate.Technology Communications, Inc., 312-832-9300, ext.
202, for Malan Realty Investors, Inc.
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