Cash Dividend On The Way From DDR Corp.'s Class K Cumulative Redeemable Preferred Shares

On 9/29/14, DDR Corp.'s 6.250% Class K Cumulative Redeemable Preferred Shares ( DDR.PRK) will trade ex-dividend, for its quarterly dividend of $0.3906, payable on 10/15/14. As a percentage of DDR.PRK's recent share price of $24.80, this dividend works out to approximately 1.58%, so look for shares of DDR.PRK to trade 1.58% lower — all else being equal — when DDR.PRK shares open for trading on 9/29/14. On an annualized basis, the current yield is approximately 6.31%, which compares to an average yield of 6.96% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

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As of last close, DDR.PRK was trading at a 0.88% discount to its liquidation preference amount, versus the average premium of 1.06% in the "Real Estate" category. The chart below shows the one year performance of DDR.PRK shares, versus DDR:

Below is a dividend history chart for DDR.PRK, showing historical dividends prior to the most recent $0.3906 on DDR Corp.'s 6.250% Class K Cumulative Redeemable Preferred Shares:

According to the ETF Finder at ETF Channel, DDR Corp. ( DDR) makes up 4.00% of the iShares Retail Real Estate Capped ETF (RTL) which is trading relatively unchanged on the day Thursday.

In Thursday trading, DDR Corp.'s 6.250% Class K Cumulative Redeemable Preferred Shares ( DDR.PRK) is currently up about 0.1% on the day, while the common shares ( DDR) are trading flat.