04:22 AM EDT, 07/19/2024 (MT Newswires) -- Howard Hughes (HHH) said late Thursday its board has authorized a pro rata distribution of 100% of the outstanding common shares of Seaport Entertainment Group to holders of record of Howard Hughes common stock as of July 29.

Holders of Howard Hughes common stock will receive one share of Seaport Entertainment common stock for every nine shares of Howard Hughes common stock held on the record date. The distribution is expected on July 31.

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