Developers Diversified Announces Results of Dividend Election
July 17 2009 - 9:00AM
Marketwired
Developers Diversified Realty (NYSE: DDR) announced that its second
quarter 2009 common share dividend of $0.20 per share will be paid
with approximately $3.1 million in cash and 6.1 million common
shares.
-- Holders of approximately 21.8 million common shares elected to receive
the dividend in 100% DDR common shares
-- Holders of approximately 87.2 million common shares elected to receive
the dividend in 100% cash and will receive $0.02499 per share in cash
(12.5%) and $0.17501 per share in DDR common shares (87.5%)
-- Holders of approximately 44.4 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 July 7, July 8 and July 9, 2009, or
$4.49 per share. All fractional shares will be paid in cash.
Developers Diversified owns and manages approximately 700 retail
operating and development properties in 45 states, plus Puerto
Rico, Brazil and Canada totaling approximately 153 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
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