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Chelsea Property Group, Inc. (ticker: CPG, exchange: New York Stock Exchange) News Release - 3-Mar-2004
Chelsea Property Group Increases Dividend by 12%
ROSELAND, N.J.--(BUSINESS WIRE)--March 3, 2004--Chelsea Property Group, Inc. (NYSE: CPG) announced today that its Board of Directors declared a quarterly cash dividend of $0.60 per share of common stock. The dividend is payable on April 12, 2004 to shareholders of record on March 31, 2004 and represents a 12% increase from $0.535 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, 2004 to shareholders of record on April 1, 2004.
Chelsea Property Group, Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that wholly or partially owns 60 Premium Outlet and other shopping centers - containing 16.1 million square feet of GLA - in 31 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. Please see http://www.cpgi.com for more information.
CONTACT: Chelsea Property Group, Inc.
Michael J. Clarke, 973-228-6111
SOURCE: Chelsea Property Group, Inc.
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