SPG » Topics » Dividends

This excerpt taken from the SPG 8-K filed Oct 30, 2009.

Dividends

        The Company announced today that the Board of Directors approved the declaration of a quarterly common stock dividend of $0.60 per share, consisting of a combination of cash and shares of the Company's common stock. The Company intends that the cash component of the dividend will not exceed 20% in the aggregate, or $0.12 per share. The dividend is payable on December 18, 2009 to stockholders of record on November 16, 2009.

        In accordance with the provisions of IRS Revenue Procedure 2008-68, stockholders may elect to receive payment of the dividend all in cash or all in common shares. To the extent that more than 20% of cash is elected, the cash portion will be prorated. Stockholders who elect to receive the dividend in cash will receive a cash payment of at least $0.12 per share. Stockholders who do not make an election will receive this dividend 20% in cash and 80% in common stock. The Company reserves the right to pay the dividend entirely in cash.

        The number of shares issued as a result of the dividend will be calculated based on the volume weighted average trading prices of the Company's common stock on December 9, December 10 and December 11, 2009.

        An information letter and election form will be mailed to stockholders of record promptly after November 16, 2009. The properly completed election form to receive cash or common shares must be received by the Company's transfer agent prior to 5:00 p.m. Eastern Time on December 8, 2009. Registered stockholders with questions regarding the dividend election may call BNY Mellon Shareowner Services, the Company's transfer agent, at (800) 454-9768. If your shares are held through a bank, broker or nominee, and you have questions regarding the dividend election please contact such bank, broker or nominee, who will also be responsible for distributing to you the letter and election form and submitting the election form on your behalf.

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        Today the Company also declared dividends on its two outstanding public issues of preferred stock:

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on November 30, 2009 to stockholders of record on November 16, 2009.

    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on December 31, 2009 to stockholders of record on December 17, 2009.
This excerpt taken from the SPG 8-K filed Aug 4, 2009.

Dividends

        The Company announced today that the Board of Directors approved the declaration of a quarterly common stock dividend of $0.60 per share, consisting of a combination of cash and shares of the Company's common stock. The Company intends that the cash component of the dividend will not exceed 20% in the aggregate, or $0.12 per share. The dividend is payable on September 18, 2009 to stockholders of record on August 17, 2009.

        In accordance with the provisions of IRS Revenue Procedure 2008-68, stockholders may elect to receive payment of the dividend all in cash or all in common shares. To the extent that more than 20% of cash is elected, the cash portion will be prorated. Stockholders who elect to receive the dividend in cash will receive a cash payment of at least $0.12 per share. Stockholders who do not make an election will receive this dividend 20% in cash and 80% in common stock. The Company reserves the right to pay the dividend entirely in cash.

        The number of shares issued as a result of the dividend will be calculated based on the volume weighted average trading prices of the Company's common stock on September 9, September 10 and September 11, 2009.

        An information letter and election form will be mailed to stockholders of record promptly after August 17, 2009. The properly completed election form to receive cash or common shares must be received by the Company's transfer agent prior to 5:00 p.m. Eastern Daylight Time on September 8, 2009. Registered stockholders with questions regarding the dividend election may call BNY Mellon Shareowner Services, the Company's transfer agent, at (800) 454-9768. If your shares are held through a bank, broker or nominee, and you have questions regarding the dividend election please contact such bank, broker or nominee, who will also be responsible for distributing to you the letter and election form and submitting the election form on your behalf.

        Today the Company also declared dividends on its two outstanding public issues of preferred stock:

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on August 31, 2009 to stockholders of record on August 17, 2009.

    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on September 30, 2009 to stockholders of record on September 16, 2009.

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These excerpts taken from the SPG 10-K filed Feb 26, 2009.

Dividends

            We are required to pay a minimum level of dividends to maintain our status as a REIT. Our dividends typically exceed our net income generated in any given year primarily because of depreciation, which is a "non-cash" expense. Our future dividends will be determined by the Board of Directors based on actual results of operations, cash available for dividends and limited partner distributions, and what may be required to maintain our status as a REIT. We paid a common stock dividend of $0.90 per share in cash in the fourth quarter of 2008.

            We offer an Automatic Dividend Reinvestment Plan that allows stockholders to acquire additional shares by automatically reinvesting cash dividends. Shares are acquired pursuant to the plan at a price equal to the prevailing market price of such shares, without payment of any brokerage commission or service charge.

            On January 30, 2009, our Board of Directors approved a quarterly common stock dividend of $0.90 per share, to be paid in a combination of cash and shares of our common stock. While our stockholders will have the right to elect to receive their dividend in either cash or common stock, we have announced that the aggregate cash component of the dividend will not exceed 10% of the total dividend, or $0.09 per share. If the number of stockholders electing to receive cash would result in our payment of cash in excess of this 10% limitation, we will allocate the cash payment on a pro rata basis among those stockholders making the cash election. We have reserved the right to elect to pay this dividend all in cash. Our Board of Directors reviews and approves dividends on a quarterly basis, and no determination has been made about whether our remaining 2009 dividends will be paid in a similar combination of cash and common stock. Paying all or a portion of the 2009 dividend in a combination of cash and shares of our common stock allows us to satisfy our REIT taxable income distribution requirement under existing IRS revenue procedures, while enhancing our financial flexibility and balance sheet strength.

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Table of Contents

Dividends





            We are required to pay a minimum level of dividends to maintain our status as a REIT. Our dividends typically exceed our net income
generated in any given year primarily because of depreciation, which is a "non-cash" expense. Our future dividends will be determined by the Board of Directors based on actual results of
operations, cash available for dividends and limited partner distributions, and what may be required to maintain our status as a REIT. We paid a common stock dividend of $0.90 per share in cash in the
fourth quarter of 2008.



            We
offer an Automatic Dividend Reinvestment Plan that allows stockholders to acquire additional shares by automatically reinvesting cash dividends. Shares are acquired pursuant to the
plan at a price equal to the prevailing market price of such shares, without payment of any brokerage commission or service charge.



            On
January 30, 2009, our Board of Directors approved a quarterly common stock dividend of $0.90 per share, to be paid in a combination of cash and shares of our common stock.
While our stockholders will have the right to elect to receive their dividend in either cash or common stock, we have announced that the aggregate cash component of the dividend will not exceed 10% of
the total dividend, or $0.09 per share. If the number of stockholders electing to receive cash would result in our payment of cash in excess of this 10% limitation, we will allocate the cash payment
on a pro rata basis among those stockholders making the cash election. We have reserved the right to elect to pay this dividend all in cash. Our Board of Directors reviews and approves dividends on a
quarterly basis, and no determination has been made about whether our remaining 2009 dividends will be paid in a similar
combination of cash and common stock. Paying all or a portion of the 2009 dividend in a combination of cash and shares of our common stock allows us to satisfy our REIT taxable income distribution
requirement under existing IRS revenue procedures, while enhancing our financial flexibility and balance sheet strength.



49









HREF="#bg72101A_main_toc">Table of Contents





This excerpt taken from the SPG 8-K filed Nov 3, 2008.

Dividends

        Today the Company announced a quarterly common stock dividend of $0.90 per share. This dividend will be paid on November 28, 2008 to stockholders of record on November 14, 2008.

        The Company also declared dividends on its two outstanding public issues of preferred stock:

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on November 28, 2008 to stockholders of record on November 14, 2008.

    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on December 31, 2008 to stockholders of record on December 17, 2008.
This excerpt taken from the SPG 8-K filed Jul 28, 2008.

Dividends

        Today the Company announced a quarterly common stock dividend of $0.90 per share. This dividend will be paid on August 29, 2008 to stockholders of record on August 15, 2008.

        The Company also declared dividends on its two outstanding public issues of preferred stock:

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on August 29, 2008 to stockholders of record on August 15, 2008.

    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on September 30, 2008 to stockholders of record on September 16, 2008.
This excerpt taken from the SPG 8-K filed Apr 29, 2008.

Dividends

        Today the Company announced a quarterly common stock dividend of $0.90 per share. This dividend will be paid on May 30, 2008 to stockholders of record on May 16, 2008.

        The Company also declared dividends on its two outstanding public issues of preferred stock:

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on May 30, 2008 to stockholders of record on May 16, 2008.

    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on June 30, 2008 to stockholders of record on June 16, 2008.
These excerpts taken from the SPG 10-K filed Feb 26, 2008.

Dividends

            We are required to pay a minimum level of dividends to maintain our status as a REIT. Our dividends and distributions of the Operating Partnership typically exceed our net income generated in any given year primarily because of depreciation, which is a "non-cash" expense. Our future dividends and the distributions of the Operating Partnership will be determined by the Board of Directors based on actual results of operations, cash available for dividends and limited partner distributions, and what may be required to maintain our status as a REIT. We paid a common stock dividend of $0.84 per share in the fourth quarter of 2007.

            We offer an Automatic Dividend Reinvestment Plan that allows stockholders to acquire additional shares by automatically reinvesting cash dividends. Shares are acquired pursuant to the plan at a price equal to the prevailing market price of such shares, without payment of any brokerage commission or service charge.

Dividends





            We are required to pay a minimum level of dividends to maintain our status as a REIT. Our dividends and distributions of the Operating Partnership typically
exceed our net income generated in any given year primarily because of depreciation, which is a "non-cash" expense. Our future dividends and the distributions of the Operating Partnership
will be determined by the Board of Directors based on actual results of operations, cash available for dividends and limited partner distributions, and what may be required to maintain our status as a
REIT. We paid a common stock dividend of $0.84 per share in the fourth quarter of 2007.




            We
offer an Automatic Dividend Reinvestment Plan that allows stockholders to acquire additional shares by automatically reinvesting cash dividends. Shares are acquired pursuant to the
plan at a price equal to the prevailing market price of such shares, without payment of any brokerage commission or service charge.





This excerpt taken from the SPG 8-K filed Feb 1, 2008.

Dividends

        Today the Company announced a quarterly common stock dividend of $0.90 per share, an increase of 7.1%. This dividend will be paid on February 29, 2008 to stockholders of record on February 15, 2008.

        The Company also declared dividends on its two outstanding public issues of preferred stock:

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on February 29, 2008 to stockholders of record on February 15, 2008.

    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on March 31, 2008 to stockholders of record on March 17, 2008.

This excerpt taken from the SPG 8-K filed Oct 29, 2007.

Dividends

        Today the Company announced a quarterly common stock dividend of $0.84 per share. This dividend will be paid on November 30, 2007 to stockholders of record on November 16, 2007.

        The Company also declared dividends on its two outstanding public issues of preferred stock:

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on November 30, 2007 to stockholders of record on November 16, 2007.

    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on December 31, 2007 to stockholders of record on December 17, 2007.
This excerpt taken from the SPG 8-K filed Jul 30, 2007.
Dividends

Today the Company announced a quarterly common stock dividend of $0.84 per share. This dividend will be paid on August 31, 2007 to stockholders of record on August 17, 2007.

The Company also declared dividends on its three outstanding issues of preferred stock:

·       7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on September 28, 2007 to stockholders of record on September 14, 2007.

·       6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on August 31, 2007 to stockholders of record on August 17, 2007.

·       8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on September 28, 2007 to stockholders of record on September 14, 2007.

This excerpt taken from the SPG 8-K filed Apr 27, 2007.

Dividends

Today the Company announced a quarterly common stock dividend of $0.­­84 per share. This dividend will be paid on May 31, 2007 to stockholders of record on May 17, 2007.

The Company also declared dividends on its three outstanding public issues of preferred stock:

·       7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on June 29, 2007 to stockholders of record on June 15, 2007.

·       6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on May 31, 2007 to stockholders of record on May 17, 2007.

·       8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on June 29, 2007 to stockholders of record on June 15, 2007.

This excerpt taken from the SPG 8-K filed Feb 2, 2007.

Dividends

Today the Company announced a quarterly common stock dividend of $0.84 per share, an increase of 10.5%. This dividend will be paid on February 28, 2007 to stockholders of record on February 14, 2007.

The Company also declared dividends on its three outstanding public issues of preferred stock:

·       7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on March 30, 2007 to stockholders of record on March 16, 2007.

·       6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on February 28, 2007 to stockholders of record on February 14, 2007.

·       8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on March 30, 2007 to stockholders of record on March 16, 2007.

This excerpt taken from the SPG 8-K filed Oct 30, 2006.

Dividends

Today the Company announced a quarterly common stock dividend of $0.76 per share. This dividend will be paid on November 30, 2006 to stockholders of record on November 16, 2006.

The Company also declared dividends on its three outstanding public issues of preferred stock:

·       7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on December 29, 2006 to stockholders of record on December 15, 2006.

·       6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on December 29, 2006 to stockholders of record on December 15, 2006.

·       8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on December 29, 2006 to stockholders of record on December 15, 2006.

This excerpt taken from the SPG 8-K filed Jul 31, 2006.

Dividends

Today the Company announced a quarterly common stock dividend of $0.76 per share. This dividend will be paid on August 31, 2006 to stockholders of record on August 17, 2006.

The Company also declared dividends on its four outstanding issues of preferred stock:

·       8.75% Series F Cumulative Redeemable Preferred (NYSE:SPGPrF) dividend of $0.546875 per share is payable on September 29, 2006 to stockholders of record on September 15, 2006.

·       7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on September 29, 2006 to stockholders of record on September 15, 2006.

·       6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on August 31, 2006 to stockholders of record on August 17, 2006.

·       8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on September 29, 2006 to stockholders of record on September 15, 2006.

This excerpt taken from the SPG 8-K filed Apr 28, 2006.

Dividends

Today the Company announced a quarterly common stock dividend of $0.76 per share. This dividend will be paid on May 31, 2006 to stockholders of record on May 17, 2006.

The Company also declared dividends on its four outstanding issues of preferred stock:

·       8.75% Series F Cumulative Redeemable Preferred (NYSE:SPGPrF) dividend of $0.546875 per share is payable on June 30, 2006 to stockholders of record on June 16, 2006.

·       7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on June 30, 2006 to stockholders of record on June 16, 2006.

·       6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on May 31, 2006 to stockholders of record on May 17, 2006.

·       8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on June 30, 2006 to stockholders of record on June 16, 2006.

This excerpt taken from the SPG 8-K filed Feb 6, 2006.
Dividends

Today the Company announced a quarterly common stock dividend of $0.76 per share, an increase of 8.6%. This dividend will be paid on February 28, 2006 to stockholders of record on February 17, 2006.

The Company also declared dividends on its four outstanding issues of preferred stock:

·       8.75% Series F Cumulative Redeemable Preferred (NYSE:SPGPrF) dividend of $0.546875 per share is payable on March 31, 2006 to stockholders of record on March 17, 2006.

·       7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on March 31, 2006 to stockholders of record on March 17, 2006.

·       6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on February 28, 2006 to stockholders of record on February 17, 2006.

·       8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on March 31, 2006 to stockholders of record on March 17, 2006.

This excerpt taken from the SPG 8-K filed Oct 27, 2005.
Dividends

Today the Company announced a quarterly common stock dividend of $0.70 per share to be paid on November 30, 2005 to stockholders of record on November 16, 2005.

The Company also declared dividends on its four outstanding issues of preferred stock:

·  8.75% Series F Cumulative Redeemable Preferred (NYSE:SPGPrF) dividend of $0.546875 per share is payable on December 30, 2005 to stockholders of record on December 16, 2005.

·  7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on December 30, 2005 to stockholders of record on December 16, 2005.

·  6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on November 30, 2005 to stockholders of record on November 16, 2005.

·  8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on December 30, 2005 to stockholders of record on December 16, 2005.

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This excerpt taken from the SPG 8-K filed Jul 28, 2005.

Dividends

Today the Company announced a quarterly common stock dividend of $0.70 per share to be paid on August 31, 2005 to stockholders of record on August 17, 2005.

The Company also declared dividends on its four outstanding issues of preferred stock:

·       8.75% Series F Cumulative Redeemable Preferred (NYSE:SPGPrF) dividend of $0.546875 per share is payable on September 30, 2005 to stockholders of record on September 16, 2005.

·       7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on September 30, 2005 to stockholders of record on September 16, 2005.

·       6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on August 31, 2005 to stockholders of record on August 17, 2005.

·       8 3/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on September 30, 2005 to stockholders of record on September 16, 2005.

This excerpt taken from the SPG 8-K filed Apr 29, 2005.

Dividends

        Today the Company announced a quarterly common stock dividend of $0.70 per share to be paid on May 31, 2005 to stockholders of record on May 17, 2005.

        The Company also declared dividends on its four outstanding issues of preferred stock:

    8.75% Series F Cumulative Redeemable Preferred (NYSE:SPGPrF) dividend of $0.546875 per share is payable on June 30, 2005 to stockholders of record on June 16, 2005.

    7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on June 30, 2005 to stockholders of record on June 16, 2005.

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on May 31, 2005 to stockholders of record on May 17, 2005.

    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on June 30, 2005 to stockholders of record on June 16, 2005.

61


This excerpt taken from the SPG 8-K filed Feb 10, 2005.

Dividends

        Today the Company announced a quarterly common stock dividend of $0.70 per share, an increase of 7.7%. This dividend will be paid on February 28, 2005 to shareholders of record on February 21, 2005.

        The Company also declared dividends on its four outstanding issues of preferred stock:

    8.75% Series F Cumulative Redeemable Preferred (NYSE:SPGPrF) dividend of $0.546875 per share is payable on March 31, 2005 to shareholders of record on March 17, 2005.

    7.89% Series G Cumulative Preferred (NYSE:SPGPrG) dividend of $0.98625 per share is payable on March 31, 2005 to shareholders of record on March 17, 2005.

    6% Series I Convertible Perpetual Preferred (NYSE:SPGPrI) dividend of $0.75 per share is payable on February 28, 2005 to shareholders of record on February 21, 2005.

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    83/8% Series J Cumulative Redeemable Preferred (NYSE:SPGPrJ) dividend of $1.046875 per share is payable on March 31, 2005 to shareholders of record on March 17, 2005.

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