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03/19/2020 Taubman Centers, Inc. to Temporarily Close Shopping Centers in Response to COVID-19
Closures will be effective from the end of business on March 19 through March 29 or later if required by state or local government Taubman Centers, Inc. (NYSE: TCO) today announced the temporary closures of all but two of the company’s U.S. shopping centers in response to COVID-19. The closures will be effective at the close of business on March 19 and will continue through March 29, or later if required by state or local government. “After numerous discussions with state and local officials, we will temporarily cease operations in all but two centers this evening,” said the company’s Chairman, President and CEO Robert S. Taubman. “We are clearly in unprecedented times and this is right decision for our shoppers, retailers, employees and these communities.” Following is the list of malls that will temporarily close: California Beverly Center (Los Angeles)
Sunvalley Shopping Center (Concord)
The Gardens on El Paseo (Palm Desert) Colorado Cherry Creek Shopping Center...
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03/05/2020 Taubman Centers Declares Quarterly Common Dividend of $0.675 Per Share
Preferred Series J and K Dividend Declared The Board of Directors of Taubman Centers, Inc. (NYSE: TCO) today declared a regular quarterly dividend of $0.675 per share of common stock. The common dividend is payable March 31, 2020 to shareholders of record on March 16, 2020. The company expects to continue paying regular cash dividends on shares of common stock, consistent with past practice, at $2.70 per share on an annualized basis ($0.675 per share on a quarterly basis), including a final dividend on a pro rata basis with respect to any “stub” period between the end of the most recent quarter-end prior to the consummation of the Mergers, with a record date immediately prior to closing. See Simon Property Group to Acquire Taubman Centers, Inc. - February 10, 2020. The Board of Directors also declared quarterly dividends of $0.40625 on its 6.5% Series J Cumulative Preferred Shares (NYSE: TCO PR J) and $0.390625 on its 6.25% Series K Cumulative Preferred Shares (NYSE: TCO PR K). The...
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02/28/2020 Taubman Completes Sale of Interest in CityOn.Xi’an to Blackstone
Taubman Centers, Inc. (NYSE: TCO) today announced the completion of the sale of 50 percent of Taubman Asia’s interest in CityOn.Xi’an (Xi’an, China) to real estate funds managed by Blackstone Group Inc. (Blackstone) for $91 million. Net proceeds to Taubman are expected to be approximately $51 million following the allocation of property-level debt, taxes and transaction costs. Following the sale, Taubman will own a 25 percent beneficial interest in the shopping center. The sale price, timing and net proceeds from the transaction are consistent with those shared in the fourth quarter earnings press release. See Taubman Centers, Inc. Issues Fourth Quarter and Full Year 2019 Results – February 10, 2020. This sale represents Taubman Asia’s third and final closing under the Blackstone transactions announced last year. “We’re pleased to have completed our remaining asset sale and we look forward to a very productive partnership with Blackstone,” said Robert S. Taubman, chairman, president...
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  • Investor Relations

    Ryan Hurren

    Vice President, Investor Relations, Interim Chief Accounting Officer

    rhurren@taubman.com

    T: (248) 258-7232

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    Erik Wright

    Manager, Investor Relations

    ewright@taubman.com

    T: (248) 258-7390

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TCO 46.39
Change-1.62(-3.37%) Volume: 1,258,260 March 27, 2020