BEACHWOOD, Ohio, Jan. 10, 2011 /PRNewswire/ -- Developers
Diversified Realty Corporation (NYSE: DDR) today declared its first
quarter 2011 common stock dividend of $0.04 per share, representing an increase of 100%
from the fourth quarter 2010 common stock dividend. The common
dividend is payable April 5, 2011 to
shareholders of record at the close of business on March 22, 2011.
David Oakes, Developers
Diversified's Chief Financial Officer, stated, "We are pleased that
our Board has the confidence to significantly increase the cash
distribution to our shareholders, while also enabling the retention
of significant capital to invest according to our strategic
objectives."
Developers Diversified owns and manages approximately 570 retail
operating and development properties in 40 states, Brazil, Canada and Puerto
Rico. Totaling approximately 132 million square feet, the
Company's shopping center portfolio features open-air,
value-oriented neighborhood and community centers, mixed-use
centers and lifestyle centers located in prime markets with stable
populations and high-growth potential. Developers Diversified is
the largest landlord in Puerto
Rico and owns a premier portfolio of regional malls in and
around Sao Paulo, Brazil.
Developers Diversified is a self-administered and self-managed REIT
operating as a fully integrated real estate company. Additional
information about the Company is available on the Internet at
www.ddr.com.
SOURCE Developers Diversified Realty Corporation