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News Breaks | | | | December 2, 2012 | | 12:12 EDT |  | VNO | Vornado's 32.4% affiliate Alexander's completes sale
VORNADO REALTY TRUST (VNO) announced that its 32.4% affiliate, Alexander’s completed the previously announced sale of the Kings Plaza Mall, Brooklyn, New York for $751M. Vornado’s share of the financial statement gain is approximately $180M. Vornado will receive a special long-term capital gain dividend from Alexander’s of approximately $202M from the sale. In turn, Vornado’s Board of Trustees has declared a special long-term capital gain dividend of $1.00 per Vornado share payable on December 21 to shareholders of record on December 10. | |
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