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Cousins Properties Announces Results of Fourth Quarter Dividend Elections

^{Published on 2010-12-14 06:10:31 - Market Wire}
 

ATLANTA--([ BUSINESS WIRE ])--Cousins Properties Incorporated (NYSE: CUZ) announced today the results of the shareholdersa™ elections relating to Cousinsa™ fourth quarter common stock dividend of $0.09per share declared by its Board of Directors on October 15, 2010.

The dividend will consist of approximately $3.1 million in cash and 790,000 shares of common stock. The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend, or approximately $3.1 million, and therefore shareholders who elected to receive all cash will receive a combination of cash and stock. The number of shares included in the dividend is calculated based on the $7.79 average closing price per share of Cousinsa™ common stock on the New York Stock Exchange on December 6, 7 and 8, 2010. The dividend of $0.09 per share will be paid as follows:

• to shareholders electing to receive the dividend in all stock, Cousins will pay the entire dividend in common stock;
• to shareholders either electing to receive the dividend in all cash or failing to make an election, Cousins will pay the dividend in the form of $0.0417 per share in cash and $0.0483 per share in common stock; and
• Cousins will pay fractional shares in cash.

Registered shareholders with questions regarding the dividend election may call American Stock Transfer & Trust Co., Cousinsa™ transfer agent, at 1-800-937-5449. If your shares are held through a bank, broker or nominee and you have questions regarding the dividend election, please contact your bank, broker or nominee.

The issuance of approximately 790,000 shares of Cousinsa™ common stock pursuant to this dividend resulted in an effective increase of 0.77% in shares of common stock outstanding on the record date of November 1, 2010.

About Cousins Properties

Cousins Properties Incorporated is a leading diversified real estate company with extensive experience in development, acquisition, financing, management and leasing. Based in Atlanta, the Company actively invests in office, multi-family, retail and land development projects. Since its founding in 1958, Cousins has developed 20 million square feet of office space, 20 million square feet of retail space, more than 3,500 multi-family units and more than 60 single-family neighborhoods. The Company is a fully integrated equity real estate investment trust (REIT) and trades on the New York Stock Exchange under the symbol CUZ. For more, please visit [ www.cousinsproperties.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 Cousinsa™ financial statements and notes thereto, as well as the risk factors described in Part I, Item 1A of the Companya™s Annual Report on Form 10-K for the year ended December 31, 2009 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. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.