DDR Dividend Provides 3.9% Yield

DDR Corp. DDR disclosed that its board declared its second quarter common stock dividend of $0.19 per share. According to the company, this represented an increase of 10 percent from the second quarter of the last year.

DDR said that the dividend would be payable on July 6 to all the eligible shareholders. For that purpose, the company has fixed June 9 as the record date to determine the eligible shareholders.

The company's President and CEO, David Oakes, commented, "We are pleased to announce another quarterly dividend that represents double-digit annualized growth. We remain focused on maintaining consistent and attractive dividend growth while still providing considerable free cash flow to reinvest in the portfolio."

The dividend provided a yield of 3.9 percent, which was higher than the five-year average dividend yield of 3.10 percent. The company has been paying a dividend since 1993 and increased the dividend rate in the last five straight years. Its five-year dividend growth was 60.6 percent and dividend payout ratio was 133 percent.

On Wednesday, shares of the company traded 2.45 percent down.