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Chelsea Property Group, Inc. (ticker: CPG, exchange: New York Stock Exchange) News Release - 14-Mar-2002
Chelsea Property Group Increases Dividend
ROSELAND, N.J., Mar 14, 2002 /PRNewswire-FirstCall via COMTEX/ -- Chelsea Property Group, Inc. (NYSE: CPG) announced today that its Board of Directors declared a quarterly cash dividend of $0.81 per share of common stock. The dividend is payable on April 15, 2002 to shareholders of record on March 28, 2002 and represents a 4% increase from $0.78 per share.
The Board of Directors also declared a cash dividend of $1.046875 per share on the Company's 8-3/8% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on April 15, 2002 to shareholders of record on April 2, 2002.
Chelsea Property Group, Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that wholly or partially owns 57 Premium Outlet(TM) and other shopping centers -- containing 12.6 million square feet of GLA -- in 28 states and Japan. The Company's leading properties include Woodbury Common Premium Outlets, near New York City; Orlando Premium Outlets, in Orlando, Florida; Desert Hills Premium Outlets, near Palm Springs, California; Wrentham Village Premium Outlets, near Boston; and Gotemba Premium Outlets, near Tokyo, Japan. See http://www.cpgi.com for more information.
SOURCE Chelsea Property Group, Inc.
CONTACT:
Michael J. Clarke, Chief Financial Officer of Chelsea Property Group, Inc.,
+1-973-228-6111
URL: http://www.cpgi.com
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