DDR Declares Common Share Dividend of $0.12 for Fourth Quarter 2012
BEACHWOOD, Ohio, Nov. 8, 2012
BEACHWOOD, Ohio, Nov. 8, 2012 /PRNewswire/ --DDR Corp. (NYSE: DDR) declared
its fourth quarter 2012 common stock dividend of $0.12 per share, which
represents an increase of 50% from the fourth quarter 2011. The common stock
dividend is payable on January 4, 2013 to shareholders of record at the close
of business on December 17, 2012.
"We are pleased to continue to deliver an attractive dividend to shareholders.
The consistent performance of our platform and significantly improved quality
of the portfolio should continue to drive strong operating performance going
forward. Combined with a low current payout ratio and improved balance sheet,
we are well positioned for strong relative growth in the dividend in future
years," said David J. Oakes, chief financial officer of DDR.
DDR is an owner and manager of 459 value-oriented shopping centers
representing 116 million square feet in 39 states, Puerto Rico and Brazil. The
company's assets areconcentrated in high barrier-to-entry markets with stable
populations and high growth potential and its portfolio is actively managed to
create long-term shareholder value. DDR is a self-administered and
self-managed REIT operating as a fully integrated real estate company, and is
publicly traded on the New York Stock Exchange under theticker symbol DDR.
Additional information about the company is available atwww.ddr.com.
DDR considers portions of the information in this press release to be
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as
amended, with respect to the Company's expectation for future periods.
Although the Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can give
no assurance that its expectations will be achieved. For this purpose, any
statements contained herein that are not historical fact may be deemed to be
forward-looking statements. There are a number of important factors that
could cause our results to differ materially from those indicated by such
forward-looking statements, including, among other factors, local conditions
such as oversupply of space or a reduction in demand for real estate in the
area; competition from other available space; dependence on rental income from
real property; the loss of, significant downsizing of or bankruptcy of a major
tenant; constructing properties or expansions that produce a desired yield on
investment; our ability to buy or sell assets on commercially reasonable
terms; our ability to complete acquisitions or dispositions of assets under
contract; our ability to secure equity or debt financing on commercially
acceptable terms or at all; our ability to enter into definitive agreements
with regard to our financing and joint venture arrangements or our failure to
satisfy conditions to the completion of these arrangements; and the success of
our capital recycling strategy. For additional factors that could cause the
results of the Company to differ materially from those indicated in the
forward-looking statements, please refer to the Company's Form 10-K for the
year ended December 31, 2011, as amended. The Company undertakes no
obligation to publicly revise these forward-looking statements to reflect
events or circumstances that arise after the date hereof.
SOURCE DDR Corp.
Contact: Samir Khanal, Senior Director of Investor Relations, +1-216-755-5500
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