CBL & Associates Properties Inc. increased its quarterly cash dividend by 6.5 percent for the company's common stock to 24.5 cents per share for the quarter ending Dec. 31.
The Chattanooga-based shopping center company said Monday the higher quarterly dividend represents an annualized dividend rate of 98 cents per share compared with the previous annualized rate of 92 cents per share.
The dividend is payable on Jan. 15, 2014, to shareholders of record as of Dec. 30, 2013.
Chattanoogan Ted Mills was cited last week for 46 years of service on the city's Industrial Development Board.
Mills, chairman of the panel for many years until stepping down from the board recently, was a charter member, said Ric Ebersole, who was elevated to Mills' slot.
"Ted is one reason why the IDB has been able to have a positive impact on Chattanooga's economy," Ebersole said.
He noted Mills put a lot of time on the Volkswagen project in recent years as the IDB oversaw much of the construction of the plant and infrastructure at Enterprise South industrial park. "That was a full-time job," Ebersole said.
Board members serve on an voluntary, unpaid basis.