On March 18, 2009, the Company paid a dividend of $0.90 per share and expects to pay three quarterly dividends of $0.60 per share for the remainder of 2009.Īccordingly, the Company announced today that the Board of Directors approved the declaration of a quarterly common stock dividend of $0.60 per share, consisting of a combination of cash and shares of the Company's common stock. This amount is currently estimated to be approximately $2.70 per share in 2009. These continue to be uncertain economic times, but I am very pleased with our performance."Īfter a thorough review, the Company's Board of Directors has decided that the annual common stock dividend will be reduced to the minimum amount required to distribute 100% of its taxable income. "We also strengthened our balance sheet, one of the strongest in the industry, by raising over $1.6 billion of capital. We delivered excellent growth in profits, a testament to the stable performance of franchise retail assets within our regional mall, Premium Outlet and Mills platforms," said David Simon, Chairman and Chief Executive Officer. "The first quarter of 2009 was very positive for our Company. (4) For mall stores less than 10,000 square feet. (3) For all owned gross leasable area (GLA). (1) Statistics do not include the community/lifestyle center properties On a diluted per share basis the increase was 15.4% to $0.45 Net income available to common stockholders for the quarter increasedĢ1.5% to $106.8 million from $87.9 million in the first quarter ofĢ008. On aĭiluted per share basis the increase was 10.3% to $1.61 from $1.46 in $476.8 million from $420.1 million in the first quarter of 2008. Funds from operations ("FFO") for the quarter increased 13.5% to (the "Company" or "Simon") (NYSE: SPG) today announced results for the quarter ended March 31, 2009: Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.INDIANAPOLIS, May 1 /PRNewswire-FirstCall/ - Simon Property Group, Inc. Simon ® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company ( Simon Property Group, NYSE: SPG). The facilities are supported by a globally diverse lender group composed of 24 banks, led by JPMorgan Chase, BofA Securities, PNC Capital Markets, Wells Fargo Securities, and Mizuho Bank who were Joint Lead Arrangers and Joint Bookrunners. We appreciate the long-standing support from our lender group," said David Simon, Chairman, Chief Executive Officer and President. The new $5.0 billion credit facility enhances our already strong financial flexibility, and when combined with our existing $3.5 billion senior unsecured credit facility provides us with $8.5 billion of total revolving credit capacity. "The closing of this facility is a continued endorsement of the strength of our Company. Dollar borrowings is unchanged from the prior facility at SOFR plus 82.5 basis points (inclusive of a 10 basis point SOFR spread adjustment). Based upon the Operating Partnership's current credit ratings, the interest rate for U.S. The new facility will initially mature on Jand can be extended for an additional year to Jat the Operating Partnership's sole option.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |