Taubman Keeps Dividend Steady

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Shopping-mall operator Taubman Centers  announced yesterday its second-quarter dividend of $0.50 per share, the same rate it paid last quarter after raising the payout 8%, from $0.4625 per share.

The board of directors said the quarterly dividend is payable on June 28 to the holders of record at the close of business on June 14. Taubman has paid a dividend every year since 1998, and it has steadily increased over that time period.

The board also declared quarterly dividends on two series of cumulative preferred shares, as follows:

  • $0.40625 per share on the 6.5% Series J, for the period April 1 through June 30
  • $0.46007 per share on the 6.25% Series K, for the period March 15 through June 30

The preferred dividends will be payable on June 28 to shareholders of record on June 14.

The regular dividend payment equates to a $2.00-per-share annual dividend, yielding 2.4% based on the closing price of Taubman Centers' stock on May 29.

TCO Dividend Chart

TCO Dividend data by YCharts

The article Taubman Keeps Dividend Steady originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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