MORGUARD CORPORATION DECLARES REGULAR QUARTERLY DIVIDEND

MISSISSAUGA, ON, May 17 /CNW/ - Morguard Corporation (MRC:TSX) announced today at its annual meeting of shareholders that its Board declared a $0.15 per share quarterly dividend on its common shares payable on June 30, 2011 to shareholders of record as at June 15, 2011.

Morguard Corporation is a real estate company which owns a diversified portfolio of 100 retail, multi-unit residential, office and industrial properties comprising 10,306 multi-unit residential suites and approximately 7.1 million square feet of commercial leasable space. Morguard Corporation also owns a 45% interest in Morguard Real Estate Investment Trust and Morguard provides advisory and management services to institutional and other investors through Morguard Investments Limited and Morguard Residential. For more information, visit the Company's website at www.morguard.com.