Chelsea Property Group Increases Dividend by 10.3%.Business Editors ROSELAND, N.J.--(BUSINESS WIRE)--March 13, 2003 Chelsea Property Group, Inc. (NYSE NYSE See: New York Stock Exchange : CPG CPG central pattern generators. ) announced today that its Board of Directors declared a quarterly cash dividend of $0.535 per share of common stock. The dividend is payable on April 14, 2003 to shareholders of record on March 31, 2003 and represents a 10.3% increase from $0.485 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, 2003 to shareholders of record on April 1, 2003. Chelsea Property Group, Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) that owns Premium Outlet(R) and other shopping centers in 30 states and Japan. The Company's leading properties include Woodbury Common Premium Outlets Woodbury Common Premium Outlets, is an outlet center located in Central Valley, New York. The center is part of the Chelsea Premium Outlets group and takes its name from the town in which it is located. , near New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; Orlando Premium Outlets in Orlando, Florida; Wrentham Village Premium Outlets, near Boston; and Gotemba Premium Outlets, near Tokyo, Japan. See www.cpgi.com for more information. |
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