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Developers Diversified Realty: Developers Diversified Realty Declares Fourth Quarter 2008 Class H and Class I Preferred Share D

^{Published on 2008-12-22 07:16:21, Last Modified on 2008-12-22 07:16:48 - Market Wire}
 

CLEVELAND, OH--(Marketwire - December 22, 2008) - Developers Diversified Realty (NYSE: [ DDR ]), the nation's leading owner, developer and manager of market-dominant shopping centers, declared its fourth quarter 2008 Preferred Class H stock dividend of $0.460938 per depositary share and Preferred Class I stock dividend of $0.46875 per depositary share.

Each Class H depositary share is equal to one-twentieth of a share of Developers Diversified's 7.375% Class H Cumulative Redeemable Preferred Stock. The declared Preferred Class H dividend covers the period beginning October 15, 2008 and ending January 14, 2008. The declared Preferred Class H Dividend is payable January 15, 2009 to shareholders of record at the close of business on December 31, 2008.

Each Class I depositary share is equal to one-twentieth of a share of Developers Diversified's 7.5% Class I Cumulative Redeemable Preferred Stock. The declared Preferred Class I dividend covers the period beginning October 15, 2008 and ending January 14, 2008. The declared Preferred Class I Dividend is payable January 15, 2009 to shareholders of record at the close of business on December 31, 2008.

Developers Diversified currently owns and manages over 720 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, Russia and Canada, totaling 159 million square feet. Developers Diversified Realty is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which acquires, develops, leases and manages shopping centers. Additional information about Developers Diversified Realty is available on the Internet at [ http://www.ddr.com ].