Kimco Realty (KIM) raises dividend 11.8%.

Kimco Realty Corp. (KIM) announced today that it has declared a first-quarter dividend of $0.19/share payable on March 24.  The current dividend represents an 11.8% increase over the prior dividend, and results in a current dividend yield of 3.1% based on a February 1 closing stock price of $24.16.  Kimco also said that the latest dividend increase is "based on projected REIT taxable income."

Kimco Realty is one of the largest owners of community shopping centers in the U.S.  The company's current portfolio includes interests in 420 consolidated and 125 joint venture properties with an aggregate 94 million sf of GLA. KIM is a member of the S&P 500 and has a total market capitalization of approximately $21 billion.