General Growth Properties is putting some of its cash in shareholder pockets.
The company this week announced dividends for two classes of its securities. The first is a distribution of $0.12 per share of its common stock. This will be handed out on July 30 to shareholders of record as of July 16. That amount matches the REIT's previous disbursement, which was paid in late April. Prior to that, GGP distributed $0.11 per share.
Holders of the company's 6.375% series A preferred stock, meanwhile, are to receive $0.3984 per share. The payment date is July 1 for shareholders of record as of June 14.
The common stock dividend annualizes to $0.48 per share. That yields 2.1% at GGP's most recent closing price of $22.86.
The article General Growth Properties Declares Fresh Dividends originally appeared on Fool.com.Fool contributor Eric Volkman has no position in General Growth Properties. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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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