SOURCE: Highwoods Properties, Inc.
December 13, 2016 16:15 ET
RALEIGH, NC--(Marketwired - Dec 13, 2016) - Highwoods Properties, Inc. (NYSE: HIW) announces its Board of Directors today declared a special cash dividend of $0.80 per share of common stock. This dividend is payable on January 10, 2017 to shareholders of record as of December 27, 2016.
The principal purpose of the special dividend is to distribute taxable capital gains associated with the sales of the Company's Country Club Plaza assets earlier in 2016. The special dividend will be paid January 10, 2017; however, it will be treated under applicable IRS rules as 2016 taxable income to shareholders.
Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE: HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa. For more information about Highwoods, please visit our website at www.highwoods.com.
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