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LOS ANGELES, CA-Maguire Properties Inc. on Monday (Sept. 15) declared its first dividend since the formation of the real estate investment trust earlier this year.

The Maguire board authorized a dividend of 41.76 cents per common share to common shareholders of record as of Sept. 30, payable on Oct. 31. The dividend consists of a regular quarterly dividend of 40 cents per common share for the period from July 1 through Sept. 30, 2003 and a prorated amount of 1.76 cents per common share covering the period from the completion of Maguire’s initial public offering on June 27, through June 30.

Maguire is the largest owner and operator of class A office properties in the Los Angeles central business district and concentrates primarily on owning and operating class A office properties in the Southern California market. As of June 30, the company’s portfolio consisted of eight office properties totaling roughly 6.1 million sf, a 350-room hotel of 266,000 sf, total on- and off-site parking of approximately 3.1 million sf with spaces for more than 10,500 vehicles and an undeveloped two-acre land parcel that is available for future office development.

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