General Growth declares 19 cent dividend

AP News
Posted: Dec 19, 2009 3:34 PM

Mall operator General Growth Properties said Saturday that it will pay a 19-cent dividend in cash and common stock to shareholders.

The dividend is payable on Jan. 28 to stockholders of record on Dec. 28. Shareholders may chose to take it in cash, stock or combination of the two. Those who do not make a choice will be given stock.

General Growth, the nation's second-largest mall operator, filed the largest U.S. real estate bankruptcy case in history in April. A bankruptcy court approved the dividend payment, the company said.

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The company owns or operates more than 200 regional malls in 43 states.