(To read more on the debt and equity markets, click here.)

CRANFORD, NJ-The board of directors of Mack-Cali Realty Corp. has approved a cash dividend of $0.63 per common share, indicating an annual rate of $2.52 per common share, for the period of January 1 through March 31, 2006. The dividend will be paid on April 17, 2006 to shareholders of record as of April 5.

The REIT’s board has also declared a cash dividend on its 8% Series C cumulative redeemable perpetual preferred stock ($25 liquidation value per depositary share, each representing 1/100th of a share of preferred stock) equal to $0.50 per depositary share for the period of January 15, 2006 through April 14, 2006. The dividend will be paid on April 17 to shareholders of record as of April 5.

Mack-Cali Realty has an agreement to buy Gale Real Estate Services Co. and full or half interests in 2.8 million sf of that company’s office properties in New Jersey in a deal valued at $545 million. That deal is expected to close as early as next month.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.