CBL declares special dividend of $2.20/share ($70M aggregate), payable Jan 18, 2023

CBL & ASSOCIATES PROPERTIES INC

Board declared a $2.20 per share special all-cash dividend, payable Jan 18, 2023 to holders of record Dec 12, 2022.
Aggregate cash distribution of approximately $70.0 million.
CEO Lebovitz noted total dividends for 2022 of $2.95/share represent a yield >10.1% relative to Nov 29 closing price.
Dividend helps CBL maintain REIT status by meeting minimum distribution requirement of 90% of REIT taxable income.
Management cited strong 2022 performance, stable balance sheet, and significant free cash flow as factors.

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