DDR Declares Second Quarter 2011 Class H and Class I Preferred Share Dividends

BEACHWOOD, Ohio, June 15, 2011 /PRNewswire/ -- Developers Diversified Realty Corporation (NYSE: DDR) declared its second quarter 2011 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 DDR's 7.375% Class H Cumulative Redeemable Preferred Stock. The declared Preferred Class H dividend covers the period beginning April 15, 2011 and ending July 14, 2011. The declared Preferred Class H Dividend is payable July 15, 2011 to shareholders of record at the close of business on July 1, 2011.

Each Class I depositary share is equal to one-twentieth of a share of DDR's 7.5% Class I Cumulative Redeemable Preferred Stock. The declared Preferred Class I dividend covers the period beginning April 15, 2011 and ending July 14, 2011. The declared Preferred Class I Dividend is payable July 15, 2011 to shareholders of record at the close of business on July 1, 2011.

About DDR

DDR owns and manages approximately 520 retail properties in 41 states, Puerto Rico and Brazil totaling approximately 127 million square feet. The Company's prime portfolio features open-air, value-oriented shopping centers in high barrier-to-entry markets with stable populations and high growth potential. DDR is the largest landlord in Puerto Rico and owns a premier portfolio of regional malls primarily clustered around Sao Paulo, Brazil. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company. Additional information about the Company is available on the Company's website at www.ddr.com.

DDR -- Financial

SOURCE Developers Diversified Realty Corporation

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