Developers Diversified Realty Declares First Quarter 2011 Common Share Dividend

BEACHWOOD, Ohio, Jan. 10, 2011 /PRNewswire/ -- Developers Diversified Realty Corporation (NYSE: DDR) today declared its first quarter 2011 common stock dividend of $0.04 per share, representing an increase of 100% from the fourth quarter 2010 common stock dividend. The common dividend is payable April 5, 2011 to shareholders of record at the close of business on March 22, 2011.

David Oakes, Developers Diversified's Chief Financial Officer, stated, "We are pleased that our Board has the confidence to significantly increase the cash distribution to our shareholders, while also enabling the retention of significant capital to invest according to our strategic objectives."

Developers Diversified owns and manages approximately 570 retail operating and development properties in 40 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 in and around Sao Paulo, Brazil. Developers Diversified 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 Internet at www.ddr.com.

SOURCE Developers Diversified Realty Corporation

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