LONDON, UK / ACCESSWIRE / October 2, 2017 / Pro-Trader Daily takes a closer look at Kimco Realty Corp. (NYSE: KIM) ("Kimco") as the Company's stock will begin trading ex-dividend on October 03, 2017. To capture the dividend payout, investors must purchase the stock one day prior to the ex-dividend date, that is latest by end of trading session on October 02, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

http://protraderdaily.com/register/

Today, PRO-TD covers ex-dividend news on KIM. Get our free coverage by signing up at:

http://protraderdaily.com/optin/?symbol=KIM

Dividend Declared

On July 26, 2017, Kimco's Board of Directors declared a quarterly cash dividend of $0.27 per common share, payable on October 16, 2017, to shareholders of record on October 04, 2017, representing an ex-dividend date of October 03, 2017

Kimco's indicated dividend represents a yield of 5.54%, substantially above the average dividend yield of 3.14% for the financial sector. The Company has raised dividend for seven consecutive years.

Dividend Insights

Kimco has a dividend payout ratio of 70.6%, which means that the Company distributes approximately $0.71 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analyst estimates, Kimco is forecasted to report earnings of $0.57 for the next year compared to the Company's annualized dividend of $1.08. Kimco is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.

Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the Companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization to earnings and subtracting any gains on sales which provides a better picture of any company's profitability and capacity to pay and to sustain dividends. For instance, Kimco's net income attributable to common shareholders for Q2 2017 was $131.9 million, or $0.31 per diluted share, compared to $191.9 million, or $0.46 per diluted share, for Q2 2016. The Company's NAREIT FFO was $175.0 million, or $0.41 per diluted share, for Q2 201, compared to $158.1 million, or $0.38 per diluted share, for Q2 2016. The FFO indicates that the Company should be able to comfortably cover its dividend payout.

Kimco's cash and cash equivalents were $142.10 million at June 30, 2017, compared to $142.49 million at December 31, 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.

Recent Development for Kimco

On September 17, 2017, Kimco announced the completion of the redemption of 9,000 shares of its issued and outstanding Class I Preferred Stock, representing 56.25% of the issued and outstanding Class I Preferred Stock, and 9,000,000 depositary shares, representing the Class I Preferred Stock, representing 56.25% of the Class I Depositary Shares.

The Class I Preferred Stock was redeemed at the redemption price of $25,000.00 per share, plus $212.50 in accrued and unpaid dividends on each share, and the Class I Depositary Shares were redeemed at the redemption price of $25.00 per depositary share, plus $0.2125 in accrued and unpaid dividends on each share.

In connection with this redemption, Kimco expects to incur a non-cash transaction charge of approximately $7.0 million. The Company will also incur a $1.6 million transaction charge related to the previously announced tender of its outstanding 4.30% Series E Medium-Term Notes due 2018. The combined $8.6 million in transaction charges will reduce net income attributable to common stockholders per diluted share and NAREIT FFO by approximately $0.02 in Q3 2017.

About Kimco Realty Corp.

Kimco is a REIT headquartered in New Hyde Park, New York, that is one of North America's largest publicly traded owners and operators of open-air shopping centers. As of June 30, 2017, the Company owned interests in 510 US shopping centers comprising 84 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

Stock Performance

At the closing bell, on Friday, September 29, 2017, Kimco Realty's stock marginally rose 0.36%, ending the trading session at $19.55. A total volume of 2.84 million shares have exchanged hands. The Company's stock price advanced 0.57% in the last one month and 6.54% in the past three months. The stock is trading at a PE ratio of 50.78 and has a dividend yield of 5.52%. The stock currently has a market cap of $8.29 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily