ATLANTA--(BUSINESS WIRE)--
Cousins Properties Incorporated (NYSE: CUZ) announced today that its
Board of Directors has declared a cash dividend of $0.075 per common
share for the first quarter of 2014, representing a 67% increase over
the prior quarter’s common dividend. The first quarter dividend will be
payable February 24, 2014, to common stockholders of record on
February 10, 2014. The $0.075 per share quarterly common dividend
equates to $0.30 per share on an annualized basis.
The Board of Directors has also declared a regular quarterly cash
dividend on its Series B Cumulative Redeemable Preferred Stock. The
dividend of $0.46875 per share, or $1.875 on an annualized basis, is
payable February 17, 2014, to Series B preferred stockholders of record
on February 3, 2014.
“We are excited to provide our stockholders with such a large increase
in our common dividend. The increase is driven by the successful
execution of our strategic plan over the last three years,” said Larry
Gellerstedt, President and CEO. “We are confident that our cash flow
going forward adequately supports this increased dividend rate.”
Cousins Properties Incorporated is a fully integrated, self-administered
and self-managed real estate investment trust (REIT). The Company, based
in Atlanta, GA, primarily invests in Class-A office properties located
in high growth Sunbelt markets, with a focus on Georgia, Texas and North
Carolina. For more information, please visit www.cousinsproperties.com.
This press release does not constitute an offer of any securities for
sale. Certain matters discussed in this press release, such as our
expectations regarding future cash flow, are forward-looking statements
within the meaning of the federal securities laws and are subject to
uncertainties and risk and actual results may differ materially from
projections. Readers should carefully review Cousins’ financial
statements and notes thereto, as well as the risk factors described in
Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year
ended December 31, 2012 and other documents Cousins files from time to
time with the Securities and Exchange Commission. Such forward-looking
statements are based on current expectations and speak as of the date of
such statements. Cousins undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of future
events, new information or otherwise.
Cousins Properties Incorporated
Marli Quesinberry, 404-407-1898
Director
of Investor Relations and Corporate Communications
marliquesinberry@cousinsproperties.com
www.cousinsproperties.com
Source: Cousins Properties Incorporated