Developers Diversified Announces Results of Dividend Election
17 April 2009 - 10:51PM
Marketwired
Developers Diversified Realty (NYSE: DDR), the leading owner,
manager and developer of market-dominant shopping centers in the
United States, announced that its first quarter 2009 common share
dividend of $0.20 per share will be paid with approximately $2.6
million in cash and 8.3 million common shares.
-- Holders of approximately 17.6 million common shares elected to receive
the dividend in 100% DDR common shares
-- Holders of approximately 97.4 million common shares elected to receive
the dividend in 100% cash and will receive $0.02361 per share in cash
(11.8%) and $0.17639 per share in DDR common shares (88.2%)
-- Holders of approximately 14.1 million common shares made no election
and will receive $0.02 per share in cash (10%) and $0.18 per share in DDR
common shares (90%)
The value of the common shares distributed in the dividend is
based upon the volume weighted average trading prices of the
Company's common shares on April 7, April 8 and April 9, 2009, or
$2.80 per share. All fractional shares will be paid in cash.
Developers Diversified owns and manages approximately 710 retail
operating and development properties in 45 states, plus Puerto
Rico, Brazil and Canada totaling approximately 157 million square
feet. The Company is a self-administered and self-managed real
estate investment trust (REIT) operating as a fully integrated real
estate company which acquires, develops and leases shopping
centers. Additional information about Developers Diversified is
available on the Internet at http://www.ddr.com.
Contact: Tom Morabito Senior Director of Investor Relations
Developers Diversified Realty Main: (216) 755-5500 E-mail: Email
Contact
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