Developers Diversified Realty Declares First Quarter 2011 Class H and Class I Preferred Share Dividends

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

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

About Developers Diversified Realty

Developers Diversified owns and manages approximately 570 retail operating and development properties in 41 states, Brazil, Canada and Puerto Rico. Totaling approximately 132 million square feet, the Company's shopping center portfolio features open-air, value-oriented neighborhood and community centers, mixed-use centers and lifestyle centers located in prime markets with stable populations and high-growth potential. Developers Diversified is the largest landlord in Puerto Rico and owns a premier portfolio of regional malls primarily clustered around Sao Paulo, Brazil. Developers Diversified is a self-administered and self-managed REIT operating as a fully integrated real estate company.

Developers Diversified – Financial

SOURCE Developers Diversified Realty Corporation

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