Weingarten Realty Reports Second Quarter Results and Announces Quarterly Dividend of $.26

Weingarten Realty

announced today the results of its second quarter ended June 30, 2010. The supplemental financial package with additional information can be found on the company's website under the Investor Relations tab. Operating and Financial Highlights -- Funds from Operations ("FFO") excluding impairments was $50.4 million or $0.42 per diluted share. Including the non-cash impairments, FFO for the quarter was $34.5 million or $0.29 per diluted share; -- Same Property Net Operating Income was strong during the quarter increasing by 1.2%, over the same period a year ago, with retail properties up 1.1% and industrial properties up 2.1%. -- Retail occupancy increased during the second quarter to 92.6% from 92.2% in the previous quarter and overall occupancy was down 0.10% quarter-over-quarter; -- The company repurchased $19.8 million of near-term debt maturities during the quarter. For the first six months, the company has reduced future debt maturities by approximately $92.4 million. The Board of Trust Managers declared a common dividend of $0.26 per share during the second quarter of 2010. The dividend is payable in cash on September 15, 2010 to shareholders of record on September 8, 2010.