INDIANAPOLIS, Sept. 14 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (the "Company" or "Simon") (NYSE: SPG) today reported results of the stockholders' elections relating to the dividend announced on August 4, 2009. The quarterly dividend of $0.60 per share of common stock is payable on September 18, 2009 to stockholders of record on August 17, 2009.
Summarized results of the dividend elections are as follows:
-- Holders of 27.5 million shares elected to receive the dividend all in
shares.
-- Holders of 233.7 million shares elected to receive the dividend all in
cash and will receive $0.1341 per share in cash (22%) and $0.4659 per
share in stock (78%).
-- Holders of 19.9 million shares made no election and will receive $0.12
per share in cash (20%) and $0.48 per share in stock (80%).
-- The Company will pay fractional shares in cash.
Based on stockholder elections, the dividend will consist of approximately $33.7 million in cash and approximately 2.0 million shares of SPG common stock. The number of shares included in the dividend was calculated based on the volume weighted average trading prices of the Company's common stock on September 9, September 10 and September 11, 2009, or $66.4717 per share.
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