18th Consecutive Quarterly Dividend Since IPO
BINGHAM FARMS, Mich., Dec. 16 /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 December 31, 1998. The dividend is payable January 20,
1999, to shareholders of record December 31, 1998. Malan has paid quarterly
cash dividends for 18 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 $15.00, the yield on the
indicated annualized rate is 11.33 percent. The company currently has 5.2
million common shares outstanding.
Malan Realty Investors, Inc. owns and operates a portfolio of 66 shopping
centers, freestanding stores and entertainment facilities, primarily in the
Midwest. The properties represent approximately 6.2 million square feet of
gross leasable area.
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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Company News On-Call:
http://www.prnewswire.com/comp/114165.html or fax,
800-758-5804, ext. 114165
CONTACT:
Michael K. Kaline, Vice President of Malan
Realty Investors, 248-644-7110, or Fred Nachman of
Corporate.Technology Communications, Inc., 312-832-9300 ext. 202
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