CBL Properties raises quarterly dividend 50% to 37.5c per share

CBL Properties announced that its Board of Directors has declared a cash dividend of 37.5c per common share for the quarter ending March 31, 2023, a 50% increase from the previous quarterly dividend rate of 25c per share. The dividend, which equates to an annual dividend payment of $1.50 per common share, is payable on March 31, 2023, to shareholders of record as of March 15, 2023. "Strong operating performance and favorable financing activity in 2022 and year-to-date have contributed to our substantial cash flow generation and strong cash position," commented Stephen D. Lebovitz, CBL‘s Chief Executive Officer. "We are pleased to share this success with our shareholders by announcing a 50% increase in the regular cash distribution."