Mack-Cali Declares $0.64 Dividend

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EDISON, NJ-The board of directors of Mack-Cali Realty Corp., based here, has voted to pay a cash dividend of $0.64 per common share for the period of Oct. 1 through Dec. 31, according to Barry Lefkowitz, VP and CFO. The dividend, which will be paid on Jan. 14 to shareholders of record as of Jan. 4, annualizes to a rate of $2.56 per common share.

The board has also declared a cash dividend on the company’s 8% Series C cumulative redeemable perpetual preferred stock–$25 liquidation value per depositary share, each representing 1/100th of a share of preferred stock–amounting to $0.50 per depositary share for the period of Oct. 15, 2007 through Jan. 14, 2008, according to Lefkowitz. That dividend will be paid on Jan. 15, 2008 to shareholders of record as of Jan. 4.

Mack-Cali’s portfolio currently consists of ownership or interests in 302 office and office/flex properties, mostly in the Northeast, totaling nearly 35 million sf. The company’s tenant base numbers about 2,200.