BEACHWOOD, Ohio, May 15, 2013 /PRNewswire/ -- DDR Corp.
(NYSE: DDR) declared its second quarter 2013 common stock dividend
of $0.135 per share, which represents
an increase of 12.5% from the second quarter of 2012. The common
stock dividend is payable on July 2,
2013 to shareholders of record at the close of business on
June 13, 2013.
"The continued outperformance of our portfolio allows us to
provide another cash distribution to our shareholders while we
remain focused on net asset value growth and long-term value
creation. Our current payout ratio gives us the ability to
proactively grow our business, including investments in selective
redevelopment and acquisition opportunities, and the flexibility to
increase our dividend in the future," said David J. Oakes, president and chief financial
officer of DDR.
About DDR Corp.
DDR is an owner and manager of 445 value-oriented shopping
centers representing 116 million square feet in 39 states,
Puerto Rico and Brazil. The Company's assets are concentrated
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 the ticker symbol DDR. Additional information about the
Company is available at www.ddr.com.
Safe Harbor
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, 2012, 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.