CHATTANOOGA, Tenn.—Jeffery V. Curry, Chief Legal Officer and Secretary of CBL & Associates Properties Inc. (NYSE:CBL), reported a recent sale of company stock. According to the SEC filing, Curry sold 50 shares of common stock on December 19 at a price of $29.86 per share, totaling approximately $1,493. Following this transaction, Curry holds 90,280 shares in the company.
The filing also disclosed an additional transaction on December 20, where Curry disposed of 4,919 shares at a price of $31.12 per share, as part of a tax-related sale, resulting in a total value of $153,079. After these transactions, Curry's total shareholding stands at 85,361 shares. A portion of these shares is held jointly with his spouse and in retirement accounts.
In other recent news, CBL Properties has reported several significant developments. The company has expedited the payment date for its previously declared quarterly cash dividend of $0.40 per common share, now scheduled for distribution in mid-December 2024. This adjustment represents an acceleration from the initial announcement made in mid-October 2024, indicating an effort to provide shareholders with the dividend payment earlier than initially planned.
In addition to this, CBL Properties completed a repurchase of 500,000 shares of its own stock, investing $12.525 million. This transaction, falling outside of its previously announced stock repurchase program, demonstrates active management of its assets and finances. The company also finalized the sale of two retail centers and nine outparcels in Layton, Utah, generating $28.5 million in cash. This transaction reduced the principal balance on CBL's term loan to $730.8 million and its open-air and outparcel loan to $340.1 million.
Moreover, CBL & Associates Properties Inc. disclosed its second-quarter financial results for the period ending June 30, 2024. Although specific figures were not released, these financial results provide crucial insights into the company's operational status and financial health. Further details about the company's earnings and supplemental financial information for the quarter are available in the public documents filed with the Securities and Exchange Commission. These are among the recent developments for CBL Properties.
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