Cedar Shopping Centers Declares Dividend On Preferred Stock

Jan 25, 2010, 13:30 ET from Cedar Shopping Centers, Inc.

PORT WASHINGTON, N.Y., Jan. 25 /PRNewswire-FirstCall/ -- Cedar Shopping Centers, Inc. (NYSE: CDR) today announced that its Board of Directors has approved payment of a dividend of $0.5546875 per share on the Company's 8 7/8% Series "A" Cumulative Redeemable Preferred Stock, payable on February 22, 2010 to shareholders of record as of the close of business on February 12, 2010.

About Cedar Shopping Centers, Inc.

Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of "bread and butter"® supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company presently owns and operates approximately 13 million square feet of GLA at 121 shopping center properties, of which more than 75% are anchored by supermarkets and/or drugstores with average remaining lease terms of approximately 11 years. The Company's stabilized properties have an occupancy rate of approximately 95%.  The Company has also announced a pipeline of seven additional substantially pre-leased primarily supermarket- and drugstore-anchored development properties.

For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company's website at www.cedarshoppingcenters.com.

SOURCE Cedar Shopping Centers, Inc.