Developers Diversified Realty to redeem 8% class G preferreds

By Toni Weeks

San Diego, March 1 - Developers Diversified Realty Corp. is calling for full redemption its 8% class G cumulative redeemable preferred shares and the related depositary shares, each representing one-tenth of one share of the class G preferreds, according to a news release.

The redemption will occur on April 4.

The class G preferreds will be redeemed at a price of $251.05556, which is $250.00 per share plus accrued dividends of $1.05556; the depositary shares will be redeemed at a price of $25.105556, which is $25.00 per depositary share plus accrued dividends of $0.105556.

The paying agent is BNY Mellon Shareowner Services LLC.

Cleveland-based Developers Diversified owns and manages roughly 570 retail operating and development properties in 41 states, Brazil, Canada and Puerto Rico.

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