BINGHAM FARMS, Mich., Sept. 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 September 30, 1999. The dividend is payable
October 20, 1999, to shareholders of record September 30, 1999. Malan has
paid quarterly cash dividends for 21 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 $14.06, the yield on the
indicated annualized rate is 12.09 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 10 states
that contains an aggregate of approximately 6.1 million square feet of GLA.
The company currently has 5.2 million common shares outstanding.
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 .
CONTACT: Michael K. Kaline, Vice President of Malan Realty Investors,
Inc., 248-644-7110; or Fred Nachman or Daphne Murray, of Corporate.Technology
Communications, Inc., 312-832-9300, ext. 202, or ext. 222, both for Malan
Realty Investors, Inc.
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 or Daphne
Murray, of Corporate.Technology Communications, Inc.,
312-832-9300, ext. 202, or ext. 222, both for Malan Realty
Investors, Inc.
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