BIRMINGHAM, 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, 1997. The dividend is payable January 20,
1998, to shareholders of record December 31, 1997.
The dividend of $0.425 per share equates to an annual dividend of $1.70
per share. Based on yesterday's closing price of $18.50, the yield on the
indicated annualized rate is 9.2 percent. The company currently has 3.7
million common shares outstanding.
Malan Realty Investors, Inc. owns and operates a portfolio of 53 shopping
centers and free-standing stores, primarily in the Midwest. The properties
represent approximately 5.7 million square feet of gross leaseable area.
News releases for Malan Realty Investors are available though 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,
312-644-8600, for Malan Realty Investors, Inc.
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