BEACHWOOD, Ohio,
Nov. 7, 2013
/PRNewswire/ -- DDR Corp. (NYSE: DDR) declared its fourth
quarter 2013 common stock dividend of $0.135 per share, which represents an increase of
12.5% from the fourth quarter of 2012. The common stock dividend is
payable on January 7, 2014 to
shareholders of record at the close of business on December 17, 2013.
(Logo: http://photos.prnewswire.com/prnh/20110912/CL65938LOGO
)
"We are pleased to announce another cash distribution to
our shareholders as we remain committed to growing our business
through multiple strategic growth levers. The consistency of our
results, a sound balance sheet, and a low payout ratio allow us to
retain capital to reinvest into our portfolio and provide us the
potential for dividend growth in the future," said David J. Oakes, president and chief financial
officer of DDR.
About DDR Corp.
DDR is an
owner and manager of 431 value-oriented shopping centers
representing 117 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, as well as on
Twitter,
LinkedIn,
Facebook and
Pinterest.
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.