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Kimco Realty Corporation Announces 12.5 Percent Increase in Common Dividend

^{Published on 2010-11-03 08:36:27 - Market Wire}
 

NEW HYDE PARK, N.Y.--([ BUSINESS WIRE ])--Kimco Realty Corporation (NYSE: KIM) announced today that its Board of Directors approved a quarterly dividend increase of 12.5 percent to $0.18 per common share. The annualized dividend of $0.72 per common share represents an $0.08 increase over the previous annualized dividend of $0.64 per common share.

Concurrently, the Board declared the first quarter dividend of $0.18 per common share, payable on January 18, 2011 to shareholders of record on January 3, 2011, representing an ex-dividend date of December 30, 2010.

The company also announced that its Board of Directors declared quarterly dividends for the companya™s preferred shares as follows:

• The Series F depositary shares, each representing 1/10 of a share of 6.65% Series F cumulative redeemable preferred shares, quarterly dividend of $0.415625 per preferred depositary share will be paid on January 18, 2011 to shareholders of record on January 3, 2011, representing an ex-dividend of December 30, 2010.
• The Series G depositary shares, each representing 1/100 of a share of 7.75% Series G cumulative redeemable preferred shares, quarterly dividend of $0.484375 per preferred depositary share will be paid on January 18, 2011 to shareholders of record on January 3, 2011, representing an ex-dividend of December 30, 2010.
• The Series H depositary shares, each representing 1/100 of a share of 6.90% Series H cumulative redeemable preferred shares, a dividend of $0.646875 per preferred depositary share will be paid on January 18, 2011 to shareholders of record on January 3, 2011, representing an ex-dividend date of December 30, 2010. This dividend payment represents the period from August 30, 2010 through and including January 14, 2011.

About Kimco

Kimco Realty Corporation, a real estate investment trust (REIT), owns and operates North Americaa™s largest portfolio of neighborhood and community shopping centers. As of September 30, 2010, the company owned interests in 948 shopping centers comprising 137 million square feet of leasable space across 44 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE under the symbol KIM and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for over 50 years. For further information, visit the company's web site at [ www.kimcorealty.com ].

Safe Harbor Statement

The statements in this release state the company's and management's intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the company's actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, (i) general adverse economic and local real estate conditions (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt, or other sources of financing or refinancing on favorable terms, (iv) the companya™s ability to raise capital by selling its assets, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates, (vii) the availability of suitable acquisition opportunities, (viii) valuation of joint venture investments, (ix) valuation of marketable securities and other investments, (x) increases in operating costs, (xi) changes in the dividend policy for our common stock, (xii) the reduction in our income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, and (xiii) impairment charges. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company's Securities and Exchange Commission filings, including but not limited to the company's Annual Report on Form 10-K for the year ended December 31, 2009. Copies of each filing may be obtained from the company or the Securities and Exchange Commission.

The company refers you to the documents filed by the company from time to time with the Securities and Exchange Commission, specifically the section titled "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2009, as may be updated or supplemented in the companya™s Form 10-Q filings, which discuss these and other factors that could adversely affect the company's results.