CBL Properties Announces Suspension of Common and Preferred Stock Dividends
CBL & Associates Properties, Inc. (CBL)
Last cbl & associates properties, inc. earnings: 2/6 04:15 pm
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Source: Business Wire
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that it is suspending all future dividends on its common stock, 7.375% Series D Cumulative Redeemable Preferred Stock and 6.625% Series E Cumulative Redeemable Preferred Stock.“Suspending dividends is a significant and difficult decision, one that was carefully considered by Management and the Board. However, preserving free cash flow is a paramount objective for CBL at this time,” said Stephen D. Lebovitz, CBL’s Chief Executive Officer. “We anticipate a decline in net operating income in 2020 as a result of heightened retailer bankruptcies, restructurings and store closings in 2019. Offsetting these declines by retaining available cash is necessary to maintain the market dominant position of our properties and to reduce debt. CBL has also made significant efforts over the past 18 months to reduce operating costs, including executive compensation and overall corporate G&A expense, as well as execution o
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News
- CBL Properties Reports Strong Results for Third Quarter 2024Business Wire
- CBL Properties Accelerates Payment of Previously Declared Fourth Quarter Common Stock DividendBusiness Wire
- CBL Properties Announces Crunch Fitness Set to Open at Hamilton Place in Chattanooga, TennesseeBusiness Wire
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CBL
Sec Filings
- 11/12/24 - Form 8-K
- 11/12/24 - Form 10-Q
- 10/22/24 - Form SC
- CBL's page on the SEC website