Kimco Realty Completes Full Redemption of its 6.000% Class I Cumulative Redeemable Preferred Stock and its 5.625% Class K Cumulative Redeemable Preferred Stock

Kimco Realty Corp. (NYSE: KIM) today announced the completion of the redemption of (i) all 7,000 shares of its issued and outstanding 6.000% Class I Cumulative Redeemable Preferred Stock (the “Class I Preferred Stock”) and all 7,000,000 depositary shares representing the Class I Preferred Stock (the “Class I Depositary Shares” and, together with the Class I Preferred Stock, the “Class I Shares”) (NYSE: KIMprI – CUSIP No. 49446R 794), representing an aggregate liquidation preference of $175 million, and (ii) all 7,000 shares of its issued and outstanding 5.625% Class K Cumulative Redeemable Preferred Stock (the “Class K Preferred Stock”) and all 7,000,000 depositary shares representing the Class K Preferred Stock (the “Class K Depositary Shares” and, together with the Class K Preferred Stock, the “Class K Shares”) (NYSE: KIMprK – CUSIP No. 49446R 745), representing an aggregate liquidation preference of $175 million.

The Class I Preferred Stock was redeemed at the redemption price of $25,000.00 per share, plus $245.833 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 $0.24583 in accrued and unpaid dividends on each share. The Class K Preferred Stock was redeemed at the redemption price of $25,000.00 per share, plus $230.468 in accrued and unpaid dividends on each share, and the Class K Depositary Shares were redeemed at the redemption price of $25.00 per depositary share, plus $0.23047 in accrued and unpaid dividends on each share. Dividends ceased to accrue on the Class I Shares and the Class K Shares as of the date of redemption.

In connection with this redemption, the company expects to recognize a non-cash transaction charge of approximately $11.4 million or $0.03 cents per common share in the third quarter of 2019. This charge will reduce Net Income and NAREIT Funds From Operations per diluted share by the same amount but have no impact on Funds From Operations as adjusted per diluted share.

About Kimco

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of June 30, 2019, the company owned interests in 428 U.S. shopping centers and mixed-use assets comprising 74.6 million square feet of leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 60 years.