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Kimco Realty Announces Common Stock Offering

Stock quotes in this article: KIM  

NEW HYDE PARK, N.Y. (AP) — Shopping center owner Kimco Realty Corp. said Thursday it plans to issue 70 million shares of common stock in part to help repay debt.

Kimco said it will also have a 30-day option to buy an additional 10.5 million shares.

Kimco has been hit hard by the recession. The company reported a 92 percent plunge in fourth-quarter funds from operations, the key measurement of performance for real estate investment trusts. ...

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