By Doc Louallen
Pershing Square declared a quarterly cash dividend of 12.2 cents a share.
It marks the company's first quarterly cash dividend since its initial public offering.
The dividend is payable July 21 to shareholders of record July 13.
The payout is equal to $0.488 a year and is equivalent to a dividend yield of about 1.5% based on Thursday's closing share price of $32.42.
The company said future dividends are at the board's discretion.
Write to Doc Louallen at Doc.Louallen@wsj.com