Cousins Properties Announces Its Fourth Quarter 2024 Common Stock Dividend

Rhea-AI Summary

Cousins Properties (NYSE: CUZ) has declared a quarterly cash dividend of $0.32 per common share for the fourth quarter of 2024. The dividend will be paid on January 14, 2025, to shareholders who are on record as of January 3, 2025. This announcement comes from the company's Board of Directors.

Positive

• Maintaining consistent dividend payment of $0.32 per share

Negative

• None.

Insights

REIT Financial Analyst

The quarterly dividend announcement of $0.32 per share maintains Cousins Properties' consistent dividend policy, translating to an annual dividend of $1.28 per share and a yield of approximately 4.8% based on current stock prices. While dividend consistency is important for REITs, which are required to distribute at least 90% of their taxable income, this announcement merely maintains the status quo rather than signaling any meaningful change in the company's financial position or strategy.

For context, Cousins Properties, as a premier Sunbelt office REIT, operates in a challenging environment where office property fundamentals remain under pressure due to hybrid work trends and economic uncertainties. The maintained dividend suggests stable cash flows from their high-quality office portfolio, though investors should note that office REITs generally face headwinds in the current market cycle. Think of it as keeping the engine running at the same speed - it's reassuring but doesn't indicate acceleration or deceleration in the business performance.

ATLANTA, Dec. 18, 2024 /PRNewswire/ -- Cousins Properties (NYSE: CUZ) announced today that its Board of Directors has declared a cash dividend of $0.32 per common share for the fourth quarter of 2024.  The fourth quarter dividend will be payable on January 14, 2025 to common shareholders of record on January 3, 2025. 

About Cousins Properties

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. For more information, please visit www.cousins.com.

This press release does not constitute an offer of any securities for sale. Certain matters discussed in this press release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risk and actual results may differ materially from projections. Readers should carefully review Cousins' financial statements and notes thereto, as well as the risk factors described in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and other documents Cousins files from time to time with the Securities and Exchange Commission. Such forward-looking statements are based on current expectations and speak as of the date of such statements. Cousins undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.

CONTACT:   
Roni Imbeaux  
Vice President, Finance and Investor Relations  
404-407-1104  
rimbeaux@cousins.com 

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SOURCE Cousins Properties

FAQ

What is Cousins Properties' dividend amount for Q4 2024?

Cousins Properties (CUZ) declared a dividend of $0.32 per common share for the fourth quarter of 2024.

When is the ex-dividend date for Cousins Properties' Q4 2024 dividend?

Based on the January 3, 2025 record date, the ex-dividend date would be January 2, 2025 (one business day before the record date).

When will Cousins Properties (CUZ) pay its Q4 2024 dividend?

Cousins Properties will pay its Q4 2024 dividend on January 14, 2025.

What is the record date for Cousins Properties' Q4 2024 dividend?

The record date for Cousins Properties' Q4 2024 dividend is January 3, 2025.