Chelsea Property Group Increases Dividend by 12%.Business Editors ROSELAND, N.J.--(BUSINESS WIRE)--March 3, 2004 Chelsea Property Group, Inc. (NYSE NYSE See: New York Stock Exchange : 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 REIT See: Real Estate Investment Trust REIT See 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 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; Desert Hills Premium Outlets, near Palm Springs, California Palm Springs is a famed Riverside County, California desert resort city, approximately 110 miles (177 km) east of Los Angeles and 140 miles (225 km) northeast of San Diego. As of the 2000 census, the city population was 42,807. ; Wrentham Village Premium Outlets, near Boston; and Gotemba Premium Outlets, near Tokyo, Japan. Please see www.cpgi.com for more information. |
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