TEL-AVIV, Israel, Nov. 25, 2014 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:TSX) (TASE:GZT), one of the world's leading multi-national real estate companies focused on the acquisition, development and redevelopment of supermarket-anchored shopping centers in major urban markets, announced today that its Board of Directors has declared a quarterly cash dividend of NIS 0.45 per share for its common stock, payable on December 29, 2014 to stockholders of record on December 15, 2014. The dividend represents an annualized distribution of NIS 1.80 per share.
The Company's Board of Directors declared a dividend policy for 2015 of a minimum quarterly dividend payment of NIS 0.46 per share, representing an annualized dividend of NIS 1.84 per share, to be distributed as of the first quarter of 2015, representing growth of 2.2% over the 2014 dividend. Since initiating its dividend in 1998, Gazit-Globe has increased its annual dividend for 16 consecutive years.
Beginning in 2016, the Company will announce all changes to its dividend policy for the coming year each January.
Holders of Gazit-Globe's shares on the NYSE and TSX will receive their distribution in U.S. dollars based on the NIS exchange rate as of the record date. Canadian shareholders may request that their brokers convert their payment in U.S. dollars into Canadian dollars.
Gazit-Globe is one of the largest owners, developers and operators of predominantly supermarket-anchored shopping centers in major urban markets around the world. Gazit-Globe is listed on the New York Stock Exchange (NYSE:GZT), the Toronto Stock Exchange (TSX:GZT) and the Tel Aviv Stock Exchange (TASE:GZT) and is included in the TA-25 and Real-Estate 15 indices in Israel. Gazit-Globe owns and operates 540 properties in more than 20 countries, with a gross leasable area of approximately 6.4 million square meters and a total value of approximately US$ 21 billion.
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements within the meaning of applicable securities laws. In the United States, these statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside our control, that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks detailed in our public filings with the SEC and the Canadian Securities Administrators. Except as required by applicable law, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.