DDR Declares Common Share Dividend Increase for First Quarter 2012

BEACHWOOD, Ohio, Jan. 5, 2012 /PRNewswire/ -- DDR Corp. (NYSE: DDR) today declared its first quarter 2012 common stock dividend of $0.12 per share, representing a 50 percent increase from the fourth quarter 2011 dividend and a 200 percent increase from the first quarter 2011 dividend. The dividend is payable April 3, 2012 to shareholders of record at the close of business on March 16, 2012.

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"With the continued strength in our operating platform, the high credit quality of our cash flows, and our proven access to capital, we are pleased to announce another dividend increase to an annualized rate of $0.48 per share," said Daniel B. Hurwitz, president and chief executive officer of DDR.

"The significant dividend increases over the last two years have been paired with a meaningful reduction in leverage and near-term debt maturities. The Company's risk profile has been significantly reduced, allowing us to prudently return more cash to our shareholders on a regular basis," said David J. Oakes, chief financial officer of DDR.

About DDR

DDR is an owner and manager of 538 primarily open-air, value-oriented shopping centers that leverages its retail knowledge to help tenants be successful and create value for its shareholders. DDR operates a total of 134 million square feet in 41 states, Puerto Rico and Brazil, concentrated in high barrier-to-entry markets with stable populations and high growth potential. 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 symbol DDR. Additional information about the company is available at www.ddr.com.

Safe Harbor

DDR 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 oversupply 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; constructing properties or expansions that produce a desired yield 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 and the success of our capital recycling 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, 2010. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

SOURCE DDR

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