The dividend equates to an annualized rate of $2.13 per share compared with $2.04 per share in 2000.
"We had an outstanding year in 2000 with a 32.7% total return to shareholders, strong growth in same center net operating income, record portfolio occupancy and the third consecutive year of double-digit growth in funds from operations per share," Charles B. Lebovitz, chairman and chief executive officer, says in a prepared statement.
Since its initial public offering in 1993, the company's dividend has grown at an annually compounded rate of 5.1%, according to the statement.
CBL & Associates Properties Inc., headquartered here owns regional malls and community shopping centers, mostly in the Southeast and a few markets in the Northeast and Midwest. The company has a portfolio of 158 properties in 26 states totaling 55.9 million sf, including 2.1 million sf of non-owned shopping centers managed for third parties.
The company also has five new projects under construction, totaling 1.7 million sf, including a 1.3 million-sf mall in Myrtle, SC.
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