SOURCE: Developers Diversified Realty

January 15, 2008 19:49 ET

Developers Diversified Announces Tax Allocations of 2007 Dividend Distributions

CLEVELAND, OH--(Marketwire - January 15, 2008) - Developers Diversified Realty (NYSE: DDR) today announced the tax allocations of 2007 dividend distributions on its common and preferred shares.

For shareholders of Developers Diversified common and preferred shares, the Form 1099-DIV summarizes the allocation of 2007 dividends. The amounts indicated on Form 1099-DIV should be reported on shareholders' 2007 federal income tax returns. The schedule below, which is presented on a per share basis, is provided for informational purposes only and should only be used to clarify the Form 1099-DIV.

Please note that the entire January 8, 2007 common share distribution will be taxable in 2007 and the entire January 8, 2008 common share distribution will be taxable in 2008.

Common Shares (NYSE: DDR)
Cusip: 251591  103

                                               Return
                                       Total    of            Unrecaptured
        Record     Payable  Ordinary  Capital Capital  Total     Sec. 1250
Period   Date       Date    Dividends  Gain     (1)   Dividends   Gain (2)
------ ---------- --------- -------- -------- -------- -------- ----------
4Q06   12/22/2006  1/8/2007 0.346407 0.191589 0.052004 0.590000   0.058501
------ ---------- --------- -------- -------- -------- -------- ----------
1Q07   3/23/2007   4/9/2007 0.387504 0.214321 0.058175 0.660000   0.065442
------ ---------- --------- -------- -------- -------- -------- ----------
2Q07   6/20/2007   7/3/2007 0.387504 0.214321 0.058175 0.660000   0.065442
------ ---------- --------- -------- -------- -------- -------- ----------
3Q07   9/24/2007  10/2/2007 0.387504 0.214321 0.058175 0.660000   0.065442
------ ---------- --------- -------- -------- -------- -------- ----------
4Q07   12/21/2007  1/8/2008 0.000000 0.000000 0.000000 0.000000   0.000000
------ ---------- --------- -------- -------- -------- -------- ----------
Total                       1.508919 0.834552 0.226529 2.570000   0.254827
------ ---------- --------- -------- -------- -------- -------- ----------

(1) Represents a return of stockholders’ original investment
(2) Represents additional characterization of amounts included in Total
    Capital Gain


Preferred Class F Depository Shares (NYSE:DDR_pf) (1)
Cusip: 251591  871


                                              Total            Unrecaptured
               Record   Payable   Ordinary   Capital   Total    Sec. 1250
Period          Date      Date    Dividends   Gain    Dividends  Gain (2)
-----------   --------- --------- --------- --------- --------- ----------
12/15/06 -
 03/14/07      3/1/2007 3/15/2007  0.346087  0.191413  0.537500   0.058447
-----------   --------- --------- --------- --------- --------- ----------
03/15/07 -
 04/02/07      4/2/2007  4/2/2007  0.069217  0.038283  0.107500   0.011690
-----------   --------- --------- --------- --------- --------- ----------


Total                              0.415304  0.229696  0.645000   0.070137
-----------   --------- --------- --------- --------- --------- ----------

(1) There is no return of capital.
(2) Represents additional characterization of amounts included in Total
    Capital Gain.



Preferred Class G Depository Shares (NYSE:DDR_pg) (1)
Cusip: 251591  830


                                               Total           Unrecaptured
                Record    Payable   Ordinary   Capital  Total    Sec. 1250
Period          Date       Date     Dividends  Gain    Dividends  Gain (2)
-----------   ---------- ---------- --------- -------- --------- ----------
12/15/06 -
 03/14/07       3/1/2007  3/15/2007  0.321941 0.178059  0.500000   0.054369
-----------   ---------- ---------- --------- -------- --------- ----------
03/15/07 -
 06/14/07       6/1/2007  6/15/2007  0.321941 0.178059  0.500000   0.054370
-----------   ---------- ---------- --------- -------- --------- ----------
06/15/07 -
 09/14/07      8/31/2007  9/17/2007  0.321941 0.178059  0.500000   0.054369
-----------   ---------- ---------- --------- -------- --------- ----------
09/15/07 -
 12/14/07     11/30/2007 12/17/2007  0.321941 0.178059  0.500000   0.054370
-----------   ---------- ---------- --------- -------- --------- ----------
Total                                1.287764 0.712236  2.000000   0.217478
-----------   ---------- ---------- --------- -------- --------- ----------

(1) There is no return of capital.
(2) Represents additional characterization of amounts included in Total
    Capital Gain.



Preferred Class H Depository Shares (NYSE:DDR_ph) (1)
Cusip: 251591  822


                                               Total           Unrecaptured
                Record    Payable   Ordinary   Capital  Total    Sec. 1250
Period          Date       Date     Dividends  Gain    Dividends Gain (2)
-----------   ---------- ---------- --------- -------- --------- ----------
01/15/07 -
 04/14/07      3/30/2007  4/16/2007  0.296789 0.164149  0.460938   0.050122
-----------   ---------- ---------- --------- -------- --------- ----------
04/15/07 -
 07/14/07      6/29/2007  7/16/2007  0.296790 0.164148  0.460938   0.050122
-----------   ---------- ---------- --------- -------- --------- ----------
07/15/07 -
 10/14/07      10/1/2007 10/15/2007  0.296790 0.164148  0.460938   0.050122
-----------   ---------- ---------- --------- -------- --------- ----------
10/15/07 -
 01/14/08     12/31/2007  1/15/2008  0.296790 0.164148  0.460938   0.050122
-----------   ---------- ---------- --------- -------- --------- ----------
Total                                1.187159 0.656593  1.843752   0.200488
-----------   ---------- ---------- --------- -------- --------- ----------

(1) There is no return of capital.
(2) Represents additional characterization of amounts included in Total
    Capital Gain.


Preferred Class I Depository Shares (NYSE:DDR_pi) (1)
Cusip: 251591  780


                                                Total          Unrecaptured
                Record    Payable   Ordinary   Capital   Total  Sec. 1250
Period          Date       Date     Dividends   Gain   Dividends Gain (2)
-----------   ---------- ---------- --------- -------- --------- ---------
01/15/07 -
 04/14/07      3/30/2007  4/16/2007  0.301819 0.166931  0.468750  0.050971
-----------   ---------- ---------- --------- -------- --------- ---------
04/15/07 -
 07/14/07      6/29/2007  7/16/2007  0.301820 0.166930  0.468750  0.050971
-----------   ---------- ---------- --------- -------- --------- ---------
07/15/07 -
 10/14/07      10/1/2007 10/15/2007  0.301820 0.166930  0.468750  0.050972
-----------   ---------- ---------- --------- -------- --------- ---------
10/15/07 -
 01/14/08     12/31/2007  1/15/2008  0.301820 0.166930  0.468750  0.050972
-----------   ---------- ---------- --------- -------- --------- ---------
Total                                1.207279 0.667721  1.875000  0.203886
-----------   ---------- ---------- --------- -------- --------- ---------

(1)  There is no return of capital.
(2)  Represents additional characterization of amounts included in Total
     Capital Gain.

Developers Diversified Realty owns and manages approximately 740 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, Russia, and Canada, totaling over 160 million square feet. The Company is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which acquires, develops and leases shopping centers. Additional information about Developers Diversified Realty is available on the Internet at http://www.ddr.com.

Contact Information

  • Contact:
    Michelle M. Dawson
    Vice President of Investor Relations
    Developers Diversified Realty Corporation
    Phone: (216) 755-5500
    E-Mail: Email Contact