SOURCE: Developers Diversified Realty

May 17, 2005 08:30 ET

Developers Diversified Declares Quarterly Class F and Class G Preferred Share Dividends

CLEVELAND, OH -- (MARKET WIRE) -- May 17, 2005 -- Developers Diversified Realty (NYSE: DDR) announced today the declaration of its second quarter 2005 Preferred Class F and Preferred Class G stock dividends.

--  Second Quarter 2005 Preferred Class F Stock Dividend: $0.5375 per
    depository share
    
Each Class F Depositary Share is equal to one tenth of a share of DDR's 8.60% Class F Cumulative Redeemable Preferred Stock. This dividend covers the period beginning on March 15, 2005, and ending on June 14, 2005. The declared Preferred Class F Dividend is payable June 15, 2005, to shareholders of record at the close of business on June 1, 2005.
--  Second Quarter 2005 Preferred Class G Stock Dividend: $0.5000 per
    depository share
    
Each Class G Depositary Share is equal to one tenth of a share of DDR's 8.00% Class G Cumulative Redeemable Preferred Stock. This dividend covers the period beginning on March 15, 2005, and ending on June 14, 2005. The declared Preferred Class G Dividend is payable June 15, 2005, to shareholders of record at the close of business on June 1, 2005.

Developers Diversified Realty Corporation currently owns and manages over 470 operating and development properties totaling approximately 109 million square feet of real estate in 44 states and Puerto Rico. Developers Diversified is a self-administered and 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 is available on the Internet at http://www.ddr.com.

Contact Information

  • Contact:
    William H. Schafer
    Senior Vice President and Chief Financial Officer
    Developers Diversified Realty
    216.755.5500