News Archive

News Archive


CBL Properties (CBL) suspends dividends for 2020.

CBL Properties (CBL) announced today that it will suspend all dividends on its outstanding preferred and common stock through year-end 2020.  The decision follows a review of CBL's projected taxable income for 2020 and required minimum distributions to maintain its status as a real estate investment trust (REIT).

The company said that it expects a decline in 2020 net operating income due to tenant bankruptcies and store closings.  The company's CEO further noted: "Offsetting these declines by retaining available cash is necessary to maintain the market dominant position of our properties and to reduce debt."

CBL & Associates Properties, Inc. owns and manages a portfolio of 108 regional mall and open-air shopping centers in the Southeastern U.S.