Simon Property Group Reports First Quarter Results and Announces Quarterly Dividend

Simon Property Group SPG today reported results for the quarter ended March 31, 2011. Net income attributable to common stockholders was $179.4 million, or $0.61 per diluted share, as compared to $9.4 million, or $0.03 per diluted share, in the prior year period. Funds from Operations ("FFO") was $570.6 million, or $1.61 per diluted share, as compared to $325.6 million, or $0.94 per diluted share, in the prior year period. First quarter 2010 FFO as adjusted for a debt extinguishment charge was $491.2 million or $1.41 per diluted share. Today the Company announced that the Board of Directors approved the declaration of a quarterly common stock dividend of $0.80 per share. This dividend is payable on May 31, 2011 to stockholders of record on May 17, 2011.