logo
  Join        Login             Stock Quote

Vornado's 32.4% Affiliate, Alexander's Completes Sale of Kings Plaza Mall for $751 Million and Vornado Declares Special Long-Term Capital Gain Dividend of $1.00 Per Share

Friday, November 30, 2012 8:08 PM


VORNADO REALTY TRUST (NYSE: VNO) announced today that its 32.4% affiliate, Alexander’s, Inc. completed the previously announced sale of the Kings Plaza Mall, Brooklyn, New York for $751 million. Vornado’s share of the financial statement gain is approximately $180 million. Vornado will receive a special long-term capital gain dividend from Alexander’s of approximately $202 million from the sale. In turn, Vornado’s Board of Trustees has declared a special long-term capital gain dividend of $1.00 per Vornado share payable on December 21, 2012 to shareholders of record on December 10, 2012.

Vornado Realty Trust is a fully integrated equity real estate investment trust.

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.

(Source: Business Wire )
(Source: Quotemedia)

Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.