BINGHAM FARMS, Mich., Sept. 13 /PRNewswire/ -- The board of directors of
Malan Realty Investors, Inc. (NYSE: MAL), a self-administered real estate
investment trust (REIT), today announced it has declared its quarterly cash
dividend for the quarter ending September 30, 2001.
The dividend of 25 cents per share will be paid October 19, 2001 to
shareholders of record on September 28, 2001. Based on the closing price of
$8.70 on September 10, 2001, the yield on the indicated annualized rate is
11.5 percent. The company currently has 5.1 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 60 properties located in nine
states that contains an aggregate of approximately 5.6 million square feet of
gross leasable area.
Safe Harbor Statement: This news release contains forward-looking
statements. Although the company believes that the statements and projections
are based on reasonable assumptions, actual results may differ from those
projected. Key factors that could cause actual results to differ materially
include litigation costs, development risks such as unanticipated costs,
economic downturns, bankruptcies and other financial difficulties of tenants,
and other risks associated with the commercial real estate business, and as
detailed in the company's filings from time to time with the Securities and
Exchange Commission. Many of these factors are beyond the control of the
company. Malan does not undertake to update these forward-looking statements.
News releases for Malan Realty Investors are available on the company's
web site at http://www.malanreit.com or 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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Related links:
http://www.prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/114165.html
CONTACT:
Michael K. Kaline, President of Malan Realty
Investors, Inc., +1-248-644-7110, or Fred Nachman of Marjan
Communications Inc. for Malan Realty Investors, Inc.,
+1-312-867-1771
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