DDR Declares Third Quarter 2018 Class J, Class K, and Class A Preferred Share Dividends
05 September 2018 - 10:05PM
Business Wire
DDR Corp. (NYSE: DDR) declared its third quarter 2018 Preferred
Class J stock dividend of $0.406250 per depositary share, Preferred
Class K stock dividend of $0.39063 per depositary share and
Preferred Class A stock dividend of $0.39844 per depositary
share.
Each Class J depositary share is equal to one-twentieth of a
share of DDR's 6.50% Class J Cumulative Redeemable Preferred Stock.
The declared Preferred Class J dividend covers the period beginning
July 15, 2018 and ending October 14, 2018. The declared Preferred
Class J Dividend is payable October 15, 2018 to shareholders of
record at the close of business on September 28, 2018.
Each Class K depositary share is equal to one-twentieth of a
share of DDR's 6.25% Class K Cumulative Redeemable Preferred Stock.
The declared Preferred Class K dividend covers the period beginning
July 15, 2018 and ending October 14, 2018. The declared Preferred
Class K Dividend is payable October 15, 2018 to shareholders of
record at the close of business on September 28, 2018.
Each Class A depositary share is equal to one-twentieth of a
share of DDR's 6.375% Class A Cumulative Redeemable Preferred
Stock. The declared Preferred Class A dividend covers the period
beginning July 15, 2018 and ending October 14, 2018. The declared
Preferred Class A Dividend is payable October 15, 2018 to
shareholders of record at the close of business on September 28,
2018.
About DDR
DDR is an owner and manager of open-air shopping centers that
provide a highly-compelling shopping experience and merchandise mix
for retail partners and consumers. The Company 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. To be
included in the Company’s e-mail distributions for press releases
and other investor news, please click here.
Safe Harbor
DDR Corp. 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, property damage, expenses related thereto and
other business and economic consequences (including the potential
loss of rental revenues) resulting from extreme weather conditions
in locations where we own properties, and the ability to estimate
accurately the amounts thereof; sufficiency and timing of any
insurance recovery payments related to damages from extreme weather
conditions; local conditions such as supply 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; redevelopment and construction activities may not achieve a
desired return 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; the
termination of any joint venture arrangements or arrangements to
manage real property; the impact of the recent spin-off of Retail
Value Inc. or the portfolio transition or any change in strategy;
the success of our deleveraging strategy; and our ability to
maintain REIT status. 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 most
recent reports on Form 10-K and Form 10-Q. The Company undertakes
no obligation to publicly revise these forward-looking statements
to reflect events or circumstances that arise after the date
hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20180905005947/en/
DDR Corp.Matthew Ostrower, 216-755-5500EVP and Chief Financial
Officer
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