Taubman Centers Declares Common & Preferred Dividends

BLOOMFIELD HILLS, MI-Taubman Centers. Inc.’s Board of Directors has declared a $0.26 per share common stock regular quarterly dividend. The common dividend is payable Oct. 21 to shareholders of record on Sept. 30, 2003.

Taubman also declared a regular quarterly dividend of $0.51875 per share on its Series A Cumulative Preferred Shares. The preferred dividend will be payable on Sept. 30 to shareholders of record on Sept. 19.

Taubman’s common shares fell eight cents to $20.15 in trading Sept. 9 on the New York Stock Exchange, where the stock trades under the symbol TCO.

Taubman Centers, Inc., a real estate investment trust, owns and/or manages 30 urban and suburban regional and super regional shopping centers in 13 states. For most of the past year, the company has been fighting over an acquisition challenge by Simon Property Group of Indianapolis, the nation’s largest owner of enclosed shopping malls.

For the first six months of 2003, Taubman earlier reported revenues of $359 million, compared to $310 million in the same period of 2002.