DDR Corp. (DDR) cut its quarterly dividend by 47.4 percent to $0.20 per share, adjusted for the reverse stock split earlier this year. DDR also lowered its dividend in 2009, when a $1.38 per share quarterly dividend was slashed to a split-adjusted $0.04 per share.

The common stock dividend is payable on October 10, 2018 to shareholders of record at the close of business on September 26, 2018. The new annual dividend of $0.20 per share yields 6.0% at a stock price of $13.40.

DDR is an owner and manager of open-air shopping centers. The company is a self-administered and self-managed REIT operating as a fully integrated real estate company.  DDR is in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers located in the Southeast and Midwest, including Florida, Georgia, Ohio and North Carolina and Puerto Rico.