Simon Property Group Declares Fourth Quarter 2020 Dividend of $1.30 Per Common Share

Rhea-AI Summary

Simon has announced a common stock dividend of $1.30 per share for the fourth quarter of 2020, payable on January 22, 2021. Shareholders on record by December 24, 2020 will receive this cash dividend. The company acknowledges potential risks from the COVID-19 pandemic affecting tenant businesses, rental income, and overall financial conditions, which could impact future dividend distributions. Simon Property Group operates as a real estate investment trust owning premier shopping and entertainment destinations.

Positive

• Declared a dividend of $1.30 per share for Q4 2020, affirming commitment to shareholders.

Negative

• Potential risks from COVID-19 affecting tenants' businesses and rent collection.
• Financial uncertainties could impact future dividend distributions and cash flow.

INDIANAPOLIS, Dec. 15, 2020 /PRNewswire/ -- Simon, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced a common stock dividend for the fourth quarter 2020. 

Simon's Board of Directors has declared a $1.30 per common share dividend, payable in cash, for the fourth quarter 2020.  The dividend will be payable on January 22, 2021 to shareholders of record at the close of business on December 24, 2020.    

Forward-Looking Statements
Certain statements made in this press release may be deemed "forward–looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward–looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained, and it is possible that the Company's actual results may differ materially from those indicated by these forward–looking statements due to a variety of risks, uncertainties and other factors. Such factors include, but are not limited to: uncertainties regarding the impact of the COVID-19 pandemic and governmental restrictions intended to prevent its spread on our tenants' businesses, financial condition, results of operations, cash flow and liquidity and our ability to access the capital markets, satisfy our debt service obligations and make distributions to our stockholders; the inability to collect rent due to the bankruptcy or insolvency of tenants or otherwise; changes in economic and market conditions that may adversely affect the general retail environment; the intensely competitive market environment in the retail industry; changes to applicable laws or regulations or the interpretation thereof; risks associated with the acquisition, development, redevelopment, expansion, leasing and management of properties; the inability to lease newly developed properties and renew leases and relet space at existing properties on favorable terms; the potential loss of anchor stores or major tenants; decreases in market rental rates; the impact of our substantial indebtedness on our future operations; any disruption in the financial markets that may adversely affect our ability to access capital for growth and satisfy our ongoing debt service requirements; any change in our credit rating; changes in market rates of interest and foreign exchange rates for foreign currencies; general risks related to real estate investments, including the illiquidity of real estate investments; security breaches that could compromise our information technology or infrastructure; risks relating to our joint venture properties; our continued ability to maintain our status as a REIT; changes in tax laws or regulations that result in adverse tax consequences; changes in the value of our investments in foreign entities; our ability to hedge interest rate and currency risk; changes in insurance costs; the availability of comprehensive insurance coverage; natural disasters; the potential for terrorist activities; environmental liabilities; the loss of key management personnel; and the transition of LIBOR to an alternative reference rate. The Company discusses these and other risks and uncertainties under the heading "Risk Factors" in its annual and quarterly periodic reports filed with the SEC.  The Company may update that discussion in subsequent other periodic reports, but except as required by law, the Company undertakes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise.

About Simon
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

 

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SOURCE Simon

FAQ

What is the dividend amount declared by Simon for Q4 2020?

Simon declared a dividend of $1.30 per common share for the fourth quarter of 2020.

When will Simon's Q4 2020 dividend be paid?

The dividend will be paid on January 22, 2021.

Who is eligible to receive Simon's Q4 2020 dividend?

Shareholders on record as of December 24, 2020, are eligible to receive the dividend.

What risks could affect Simon's future dividends?

Risks include COVID-19 impact on tenant businesses and uncertainties in financial conditions.

Is Simon listed on any stock exchange?

Yes, Simon Property Group is listed on the NYSE under the ticker symbol SPG.