This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Kimco Realty Announces Fourth Quarter And Full Year 2012 Operating Results; Reports A 10 Percent Increase In FFO As Adjusted Of $0.33 Per Diluted Share For The Fourth Quarter 2012

Dispositions:

As previously announced in the fourth quarter of 2012, Kimco sold 34 retail properties, totaling 3.9 million square feet with an average pro-rata occupancy of 90.4 percent, for approximately $246.1 million, including $35.4 million of mortgage debt. Kimco’s share of the proceeds from these sales was $180.2 million. Key dispositions included the sales of two shopping center portfolios located primarily in Ohio and Indiana totaling 22 properties for $131.1 million.

For the full year 2012, Kimco sold 68 shopping center properties in the U.S., comprising nearly 7.7 million square feet, for $631.8 million, including $153.8 million of mortgage debt. The company’s share of proceeds from these sales was $385.8 million. These properties had an average pro-rata occupancy of 87.8 percent with an average population and household income of 76,000 and $63,000, respectively, within a three-mile radius.

Capital Structure

Kimco’s board of directors declared a quarterly cash dividend of $0.21 per common share, payable on April 15, 2013 to shareholders of record on April 3, 2013, representing an ex-dividend date of April 1, 2013.

The board of directors also declared quarterly dividends for the company’s preferred shares as follows:

  • For the Class H depositary shares, each representing 1/100 of a share of 6.90 percent Class H cumulative redeemable preferred shares, a quarterly dividend of $0.43125 per preferred depositary share will be paid on April 15, 2013 to shareholders of record on April 2, 2013, representing an ex-dividend date of March 28, 2013;
  • For the Class I depositary shares, each representing 1/1000 of a share of 6.00 percent Class I cumulative redeemable preferred shares, a quarterly dividend of $0.37500 per preferred depositary share will be paid on April 15, 2013 to shareholders of record on April 2, 2013, representing an ex-dividend date of March 28, 2013.
  • For the Class J depositary shares, each representing 1/1000 of a share of 5.50 percent Class J cumulative redeemable preferred shares, a quarterly dividend of $0.34375 per preferred depositary share will be paid on April 15, 2013 to shareholders of record on April 2, 2013, representing an ex-dividend date of March 28, 2013.

In addition, the board of directors has declared the initial dividend for the company’s Class K depositary shares, each representing 1/1000 of a share of 5.625 percent Class K cumulative redeemable preferred shares. This dividend of $0.50000 per preferred depositary share will be paid on April 15, 2013 to shareholders of record on April 2, 2013, representing an ex-dividend date of March 28, 2013 and represents the period from December 7, 2012 through and including April 14, 2013.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,716.47 -59.65 -0.34%
S&P 500 2,058.81 -9.08 -0.44%
NASDAQ 4,867.68 -33.2050 -0.68%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs