Taubman Centers, Inc. Issues Solid Fourth Quarter and Full Year 2015 Results and Introduces 2016 Guidance
Comparable Center Net Operating Income (NOI) Excluding Lease Cancellation Income Up 3.4 Percent for the Quarter and 3.1 Percent for the Year Leased Space and Occupancy, Mall Tenant Sales Per Square Foot, and Average Rent Per Square Foot All Up for the Year Achieved Releasing Spreads of 23 Percent Taubman Centers, Inc. (NYSE: TCO) today reported financial results for the quarter and full year periods ended December 31, 2015 . December 31, December 31, 2015 2014 December 31, December 31, Three Months Three Months 2015 2014 Ended(1) Ended(1) Year Ended(1) Year Ended(1) Net income attributable to common shareholders (EPS) per diluted common $0.42 $6.86 $1.76 $13.47 share ...
Taubman Centers Announces Taxable Allocations of 2015 Common and Preferred Share Dividend Distributions
BLOOMFIELD HILLS, Mich. -(BUSINESS WIRE)- Taubman Centers, Inc. (NYSE: TCO) announced today the tax allocations of the 2015 dividend distributions on its common shares and 6.5% Series J and 6.25% Series K Cumulative Redeemable Preferred Shares. The 2015 distributions paid with respect to Taubman Centers, Inc. Common Stock (NYSE: TCO/Cusip no. 876664103) are as follows: Long Term Unrecaptured Ordinary Return of Capital Sec. 1250 Declaration Record Payable Gross Dividend Capital Gain Capital Gain Date Date Date Distribution Percent Percent Percent Percent 03/10/15 03/20/15 03/31/15 0.56500 95.66763% 4.30089% 0.01932% 0.01216% 05/29/15 06/15/15 06/30/15 0.56500 95.66763% 4.30089% 0.01932% 0.01216% 09/03/15 09/15/15 09/30/15 0.56500 95.66763% 4.30089% 0.01932% 0.01216% 12/03/15 12/15/15 12/31/15 0.56500 95.66763% 4.30089% 0.01932% 0.01216% 2015 TOTALS PER SHARE 2.26000 95.66763% 4.30089% 0.01932% 0.01216% Amounts reported to Direct Share Purchase and Dividend Reinvestment Plan...
Taubman Announces Update on Miami Worldcenter Project
Company has decided not to move forward with enclosed regional mall Now pursuing a high street retail plan Write off of $11-$12 million to be recognized in the fourth quarter of 2015 Taubman Centers, Inc. (NYSE: TCO) today announced that it has decided not to move forward with an enclosed regional mall that was slated to be part of the Miami Worldcenter mixed-use, urban development in Miami, Florida . Instead, Taubman, in conjunction with The Forbes Company and Miami Worldcenter’s master developer, Miami Worldcenter Associates , is now pursuing a high street retail plan that will better utilize the unique characteristics of the site and the market. As a result of the decision, during the fourth quarter of 2015, Taubman expects to recognize a charge of $11-$12 million for the write off of previously capitalized costs related to predevelopment of the enclosed mall plan. This is expected to reduce 2015 Funds from Operations and net income allocable to common shareholders per diluted...