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.