Cousins Properties (CUZ) Announces Results of $0.09 Dividend Election

Cousins Properties Incorporated (NYSE: CUZ) announces the results of a quarterly dividend election of $0.09 per share. From the release: The dividend will consist of approximately $3.1 million in cash and 790,000 shares of common stock. The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend, or approximately $3.1 million, and therefore shareholders who elected to receive all cash will receive a combination of cash and stock. The number of shares included in the dividend is calculated based on the $7.79 average closing price per share of Cousins’ common stock on the New York Stock Exchange on December 6, 7 and 8, 2010. The dividend of $0.09 per share will be paid as follows:to shareholders electing to receive the dividend in all stock, Cousins will pay the entire dividend in common stock; to shareholders either electing to receive the dividend in all cash or failing to make an election, Cousins will pay the dividend in the form of $0.0417 per share in cash and $0.0483 per share in common stock; and Cousins will pay fractional shares in cash.... Read more

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