Columbia Property declares special dividend in line with $3.9B merger

Columbia Property Trust Inc. declared a special cash dividend of $2.17 per share, payable to shareholders of record Dec. 8.

The office landlord will pay the special dividend in conjunction with the expected closing of its proposed merger with Pacific Investment Management Co. LLC.

The roughly $3.9 billion merger is expected to close on or around Dec. 8, subject to approval by Columbia's stockholders and other customary conditions.