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CRANFORD, NJ-The board of directors of Mack-Cali Realty Corp., based here, has approved an increased common cash dividend of $0.64 per common share for Q3, the period from July 1 to Sept. 30. This is equivalent to an annualized dividend of $2.56 per common share, a 1.6% increase from the previous annualized dividend of $2.52 per share. The dividend will be paid on Oct. 16 to shareholders of record as of Oct. 4.

The REIT’s board has also declared a cash dividend on its 8% Series C cumulative redeemable perpetual preferred stock, which has a $25 liquidation value per depositary share, each representing 1/100th of a share of preferred stock. The dividend amounts to $0.50 per share for the period of July 15 through Oct. 14, and it will be paid on Oct. 16 to shareholders of record as of Oct. 4.

Mack-Cali currently owns or has interests in 320 properties, mostly office and office/flex in the Northeast. Those holdings add up to nearly 36 million sf.

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