Co-produced with Beyond Saving
As most are likely aware, CBL Properties (CBL) has announced a suspension of all future dividends, including their preferred dividends on CBL-D (CBL.PD) and CBL-E (CBL.PE). CEO Stephen Lebovitz stated in the press release:
We anticipate a decline in net operating income in 2020 as a result of heightened retailer bankruptcies, restructurings and store closings in 2019. Offsetting these declines by retaining available cash is necessary to maintain the market dominant position of our properties and to reduce debt.
This is a move that we