Cousins Properties Incorporated (NYSE:CUZ) has announced its quarterly dividend of $0.09 per share. The dividend is payable to stockholders of record as of February 1, 2010. The company will pay the dividend in a combination of cash and shares of common stock. The cash component will not exceed 33.34% of the aggregate dividend amount. Shareholders may choose to receive payment in all cash or in all common shares, pursuant to the IRS Revenue Procedure 2010-12. Shareholders who fail to make a decision will receive their dividend in cash.
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Cousins Properties Incorporated (the Registrant or Cousins) is a real estate investment trust (REIT). The wholly owned subsidiary of the Company, Cousins Real Estate Corporation and its subsidiaries (CERC), owns, develops, and manages its own real estate portfolio and performs certain real estate related services for other parties. The Company conducts its business through three functional groups: Development, Leasing and Asset Management, and Investment and Corporate. Its Company’s objective is to produce stockholder returns by creating value through the acquisition, development and redevelopment of office, multi-family, retail, industrial and residential properties. The Development Group is responsible for all development activities of the Company. The Leasing and Asset Management Group is responsible for the activities of all stabilized operating properties that the Company owns. The Investment and Corporate groups evaluate the capital structure of the Company.
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