The Real Deal Miami

Vornado announces quarterly dividend

January 14, 2009 05:57PM

Vornado Realty Trust announced today that shareholders will receive a quarterly dividend of 95 cents per share. Because of the recession, 40 percent of each dividend will be in cash and 60 percent will be made up of shares, the company said in a statement. Quarterly dividends are payable March 12. Paying dividends at this rate through all of 2009 will allow Vornado to retain $390 million, according to the statement. Vornado’s quarterly dividend is comparable to dividends at other REITs. TRD