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...
Taubman and Macerich to Acquire Country Club Plaza
Taubman Centers, Inc. (NYSE: TCO) and The Macerich Company (NYSE: MAC) today announced an agreement to purchase Country Club Plaza (Kansas City, Mo.) from Highwoods Properties, Inc. (NYSE: HIW). This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160104006471/en/ Country Club Plaza , Kansas City, Mo. (Photo: Business Wire) The purchase price for the mixed-use retail and office property is $660 million cash, excluding transaction costs. Taubman and Macerich will each have a 50% interest in the center, which will be jointly managed by both companies. Concurrent with or shortly after closing, a long-term, fixed-rate loan for 50-60% of the purchase price is expected to be placed on the asset. “Taubman and Macerich are bringing our collective expertise together to continue to ensure the long-term growth and success of the iconic Country Club Plaza ,” said Robert S. Taubman , chairman, president, and chief executive officer of...