BEACHWOOD, Ohio, June 7, 2017 /PRNewswire/ -- DDR Corp.
(NYSE: DDR) declared its second quarter 2017 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 $0.17708 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
April 15, 2017, and ending
July 14, 2017. The declared Preferred
Class J Dividend is payable July 17,
2017, to shareholders of record at the close of business on
June 30, 2017.
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
April 15, 2017, and ending
July 14, 2017. The declared Preferred
Class K Dividend is payable July 17,
2017, to shareholders of record at the close of business on
June 30, 2017.
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 June 5, 2017, which
is the date of issuance, and ending July 14,
2017. The declared Preferred Class A Dividend is payable
July 17, 2017, to shareholders of
record at the close of business on June 30,
2017.
ABOUT DDR CORP.
DDR is an owner and manager of 309 value-oriented shopping
centers representing 103 million square feet in 35 states and
Puerto Rico. The Company owns a
high-quality portfolio of open-air shopping centers in major
metropolitan areas that provide a highly-compelling shopping
experience and merchandise mix for retail partners and consumers.
The Company actively manages its assets with a focus on creating
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.
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, 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 success of our deleveraging strategy; and any
impact or results from the Company's portfolio transition or any
change in 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, 2016. 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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SOURCE DDR Corp.