BEACHWOOD, Ohio, Jan. 6, 2014 /PRNewswire/ -- DDR Corp. (NYSE:
DDR) declared its first quarter 2014 common stock dividend of
$0.155 per share, which represents an
increase of 15% from the first quarter of 2013. The common stock
dividend is payable on April 8, 2014
to shareholders of record at the close of business on March 13, 2014. Based on the most recent closing
price, the new dividend represents a yield of 4.0% on an annualized
basis.
(Logo: http://photos.prnewswire.com/prnh/20131217/DDRLOGO)
"We are pleased to announce an increase in our dividend to an
annualized rate of $0.62 per share,
which reflects the continued strength of the portfolio and balance
sheet. Our relatively low payout ratio allows us to invest our free
cash flow into various growth levers and positions us well for
further increases in the dividend in the coming years," said
David J. Oakes, president and chief
financial officer of DDR.
About DDR Corp.
DDR is an owner and manager of 417
value-oriented shopping centers representing 114 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 and Facebook.
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