Arlington, Va. – Locally based The Mills Corp.’s board of directors approved an increase in the company’s quarterly common stock cash dividend to $0.5325 per share, which is an increase of 3%.

The increased dividend, effective for the first quarter of 2001, will be payable on May 1, 2001, to shareholders of record as of April 20, 2001. The Mills Corp. has had four consecutive annual dividend increases.