Key Developments: Cousins Properties Inc (CUZ)

Latest Key Developments (Source: Significant Developments)

Cousins Properties Inc Declares Second Quarter Common and Preferred Stock Dividends
Tuesday, 16 Apr 2013 04:01pm EDT

Cousins Properties Inc announced that its Board of Directors has declared a regular quarterly cash dividend of $0.045 per common share, payable May 29, 2013, to common stockholders of record on May 16, 2013. The $0.045 per share quarterly dividend equates to $0.18 on an annualized basis. The Board of Directors also declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock (the Series A Shares). The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable May 15, 2013, to Series A preferred stockholders of record on May 1, 2013. The Company has previously announced that all of the Series A Shares will be redeemed on May 13, 2013. The dividend payable on May 15, 2013 will be the last dividend payable with respect to the Series A Shares. The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable May 15, 2013, to Series B preferred stockholders of record on May 1, 2013. Full Article

Cousins Properties Inc Completes Offering of Common Stock
Friday, 12 Apr 2013 04:01pm EDT

Cousins Properties Inc announced the completion of its public offering of 14,354,000 shares of the Company`s common stock, plus an additional 2,153,100 shares of the Company`s common stock issued and sold pursuant to the exercise of the underwriters` option to purchase additional shares in full, at the public offering price of $10.45 per share. The net proceeds from the offering, after deducting the underwriting discount and offering expenses, were approximately $165.1 million. The Company intends to use a significant portion of the net proceeds of the offering to acquire 816 Congress Avenue, a Class-A office building in Austin, Texas. The property is currently under contract, and the acquisition is expected to close by the end of April 2013. In addition, the Company intends to use a portion of the net proceeds to redeem in full its outstanding 7.75% Series A Cumulative Redeemable Preferred Stock. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and Wells Fargo Securities acted as joint book-running managers for the offering. Full Article

Cousins Properties Inc Prices Offering Of 14,354,000 Shares Of Common Stock
Tuesday, 9 Apr 2013 08:45am EDT

Cousins Properties Inc announced that it has increased previously-announced underwritten public offering from 14,000,000 to 14,354,000 shares of common stock and priced the offering at $10.45 per share, for gross proceeds of approximately $150 million. The underwriters have been granted a 30-day option to purchase up to an additional 2,153,100 shares. The offering is expected to close on or about April 12, 2013, subject to customary closing conditions. The Company intends to use a portion of the net proceeds of the offering to acquire 816 Congress Avenue, a Class-A office building in Austin, Texas. The property is currently under contract, and the acquisition is expected to close mid-April 2013. In addition, the Company intends to use a portion of the net proceeds to redeem in full outstanding 7.75% Series A Cumulative Redeemable Preferred Stock. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and Wells Fargo Securities acted as joint book-running managers for the offering. Full Article

Cousins Properties Inc Announces Offering of 14.0 Million Shares of Common Stock
Monday, 8 Apr 2013 04:01pm EDT

Cousins Properties Inc announced that it has commenced an underwritten public offering of 14.0 million shares of its common stock. The underwriters are expected to be granted a 30-day option to purchase up to an additional 2.1 million shares. The Company intends to use a significant portion of the net proceeds of the offering to acquire 816 Congress Avenue, a Class-A office building in Austin, Texas. The property is currently under contract, and the acquisition is expected to close mid-April 2013. In addition, the Company intends to use a portion of the net proceeds to redeem in full its outstanding 7.75% Series A Cumulative Redeemable Preferred Stock. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers for the offering. Full Article

Cousins Properties Inc Declares First Quarter Common And Preferred Stock Dividends-DJ
Thursday, 17 Jan 2013 04:00pm EST

Dow Jones reported that Cousins Properties Inc announced that its Board of Directors has declared a regular quarterly cash dividend of $0.045 per common share, payable February 23, 2013, to common stockholders of record on February 9, 2013. The Board of Directors also declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable February 15, 2013, to Series A preferred stockholders of record on February 1, 2013. The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable February 15, 2013, to Series B preferred stockholders of record on February 1, 2013. Full Article

Cousins Properties Inc Declares Fourth Quarter Common Stock Dividend
Tuesday, 20 Nov 2012 04:00pm EST

Cousins Properties Inc announced that its Board of Directors has declared a regular quarterly cash dividend of $0.045 per common share, payable December 21, 2012, to common stockholders of record on December 7, 2012. The $0.045 per share quarterly dividend equates to $0.18 on an annualized basis. Full Article

Cousins Properties Inc Declares Fourth Quarter Preferred Stock Dividends
Thursday, 18 Oct 2012 04:01pm EDT

Cousins Properties Inc announced that its Board of Directors has declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable November 15, 2012, to Series A preferred stockholders of record on November 1, 2012. The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable November 15, 2012, to Series B preferred stockholders of record on November 1, 2012. Full Article

Cousins Properties Inc to Sell Third Party Client Services Business
Tuesday, 14 Aug 2012 04:55pm EDT

Cousins Properties Inc announced that it has reached an agreement to sell its Third Party Client Services Business to Cushman & Wakefield. The business unit, known as Client Services Group (CSG) provides third party services, including Leasing, Property Management, and Project Management, to owners of Class A office buildings in Atlanta and Dallas. Cousins Properties will continue to own and operate its fee business that is not associated with the Client Services Group. Under the terms of the agreement, up to 128 professionals will transition from Cousins to Cushman & Wakefield, providing immediate enhanced capabilities for clients supported by Cushman & Wakefield`s Investor Services and Leasing groups in two key geographic areas. The transaction is expected to close by year end, subject to customary conditions and minimum third party consents. Full Article

Cousins Properties Incorporated Acquires Dallas Office Tower
Wednesday, 8 Aug 2012 11:16am EDT

Cousins Properties Incorporated announced that it has acquired 2100 Ross Avenue, an 844,000-square-foot, Class-A office building located in the Arts District submarket of Dallas, Texas. The Company purchased the office tower at a foreclosure auction for a net purchase price of $59.2 million, which equates to $70 per square foot. Cousins had previously acquired a $10 million B-note backed by 2100 Ross Avenue in an off-market transaction. Full Article

Cousins Properties Incorporated Declares Third Quarter Common and Preferred Stock Dividends
Thursday, 19 Jul 2012 04:01pm EDT

Cousins Properties Incorporated announced that its Board of Directors has declared a regular quarterly cash dividend of $0.045 per common share, payable August 24, 2012, to common stockholders of record on August 10, 2012. The $0.045 per share quarterly dividend equates to $0.18 on an annualized basis. The Board of Directors also declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable August 15, 2012, to Series A preferred stockholders of record on August 1, 2012. The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable August 15, 2012, to Series B preferred stockholders of record on August 1, 2012. Full Article

Cousins Properties Inc News

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