90.7 F
San Fernando
Friday, Jun 2, 2023

General Growth CFO departs as stock plunges to 12-year low

General Growth Properties Inc. said Friday morning that Chief Financial Officer Bernard Freibaum, who has been obliged to sell millions of company shares to satisfy margin calls, has left the embattled real estate investment trust. The REIT also said that directors have voted to suspend General Growth’s 50-cent-a-share quarterly dividend, “given the uncertainty and volatility in the capital markets.” GGP noted that its distributions so far this year have been adequate to maintain its status as a real estate investment trust. For the full story visit www.chicagotribune.com/topic/economy-business-finance/general-growth-properties-incorporated-ORCRP006401.topic

Featured Articles

Related Articles