Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - COUSINS PROPERTIES INC | g25514e8vk.htm |
Exhibit 99.1
News Release
CONTACT:
Cameron Golden
Director of Investor Relations and Corporate Communications
(404) 407-1984
camerongolden@cousinsproperties.com
Cameron Golden
Director of Investor Relations and Corporate Communications
(404) 407-1984
camerongolden@cousinsproperties.com
Web site address: www.cousinsproperties.com
COUSINS PROPERTIES ANNOUNCES RESULTS OF
FOURTH QUARTER DIVIDEND ELECTIONS
FOURTH QUARTER DIVIDEND ELECTIONS
ATLANTA—December 14, 2010—Cousins Properties Incorporated (NYSE: CUZ) announced today the
results of the shareholders’ elections relating to Cousins’ fourth quarter common stock dividend of
$0.09 per share declared by its Board of Directors on October 15, 2010.
The dividend will consist of approximately $3.1 million in cash and 790,000 shares of common stock.
The amount of cash elected to be received was greater than the cash limit of 33.34% of the total
value of the dividend, or approximately $3.1 million, and therefore shareholders who elected to
receive all cash will receive a combination of cash and stock. The number of shares included in the
dividend is calculated based on the $7.79 average closing price per share of Cousins’ common stock
on the New York Stock Exchange on December 6, 7 and 8, 2010. The dividend of $0.09 per share will
be paid as follows:
| • | to shareholders electing to receive the dividend in all stock, Cousins will pay the entire dividend in common stock; | ||
| • | to shareholders either electing to receive the dividend in all cash or failing to make an election, Cousins will pay the dividend in the form of $0.0417 per share in cash and $0.0483 per share in common stock; and | ||
| • | Cousins will pay fractional shares in cash. |
Registered shareholders with questions regarding the dividend election may call American Stock
Transfer & Trust Co., Cousins’ transfer agent, at 1-800-937-5449. If your shares are held through a
bank, broker or nominee and you have questions regarding the dividend election, please contact your
bank, broker or nominee.
The issuance of approximately 790,000 shares of Cousins’ common stock pursuant to this dividend
resulted in an effective increase of 0.77% in shares of common stock outstanding on the record date
of November 1, 2010.
About Cousins Properties
Cousins Properties Incorporated is a leading diversified real estate company with extensive
experience in development, acquisition, financing, management and leasing. Based in Atlanta, the
Company actively invests in office, multi-family, retail and land development projects. Since its
founding in 1958, Cousins has developed 20 million square feet of office space, 20 million square
feet of retail space, more than 3,500 multi-family units and more than 60 single-family
neighborhoods. The Company is a fully integrated equity real estate investment trust (REIT) and
trades on the New York Stock Exchange under the symbol CUZ. For more, please visit
www.cousinsproperties.com.
This press release does not constitute an offer of any securities for sale. Certain matters
discussed in this press release are forward-looking statements within the meaning of the federal
securities laws and are subject to uncertainties and risk and actual results may differ materially
from projections. Readers should carefully review Cousins’ financial statements and notes thereto,
as well as the risk factors described in Part I, Item 1A of the Company’s Annual Report on Form
10-K for the year ended December 31, 2009 and other documents Cousins files from time to time with
the Securities and Exchange Commission. Such forward-looking statements are based on current
expectations and speak as of the date of such statements. The Company undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a result of future events, new
information or otherwise.