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Stock Market & Financial Investment News

News Breaks
December 2, 2012
12:12 EDTVNOVornado'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.
News For VNO From The Last 14 Days
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September 30, 2014
17:28 EDTVNOVornado Q3 to include negative FFO of 9c from its 32.7% share of Toys “R” Us’
Vornado Realty Trust announced its 32.7% share of Toys “R” Us’ second quarter financial results that it will record in its third quarter ending September 30. Vornado’s results will include a net loss of $18,418,000 or 9c per diluted share, compared to a net loss of $34,209,000, or 17c per diluted share recorded in the quarter ended September 30, 2013. Vornado’s share of negative Funds From Operations after income taxes for the quarter ending September 30 will be $18,035,000 or 9c per diluted share, compared to negative FFO after income taxes of $22,343,000, or 11c per diluted share in the prior year’s Q3. Vornado’s share of Toys’ FFO will be treated as non-comparable in all periods presented. The business of Toys is highly seasonal; historically, Toys’ fourth quarter net income accounts for more than 80% of its fiscal year net income.

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