Kimco Realty Corporation Announces 10 Percent Increase in Common Dividend

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--

Kimco Realty Corporation (NYSE: KIM), announced today that its Board of Directors approved a quarterly dividend increase of ten percent to $0.44 per common share. The annualized dividend of $1.76 per common share represents a $0.16 increase over the previous annualized dividend of $1.60 per common share. Because of its strong dividend, Kimco is recognized as a Mergent Dividend Achiever, an index which includes only 10 percent of North American listed companies that pay dividends. This represents the seventeenth consecutive annual increase in Kimco's dividend, which has grown at a compound annual rate of approximately 9.4% percent since the company's initial public offering in 1991.

Concurrently, the Board declared the fourth quarter dividend of $0.44 per common share, payable on October 15, 2008 to shareholders of record on October 3, 2008, representing an ex-dividend date of October 1, 2008.

About Kimco

Kimco Realty Corporation, a real estate investment trust (REIT), owns and operates the nation's largest portfolio of neighborhood and community shopping centers. As of June 30, 2008, the company owned interests in 1,928 properties comprising 180 million square feet of leasable space across 45 states, Puerto Rico, Canada, Mexico, Chile, Brazil and Peru. Publicly traded on the NYSE under the symbol KIM and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 50 years. For further information, visit the company's web site at www.kimcorealty.com.

Safe Harbor Statement

The statements in this release state the company's and management's hopes, intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the company's actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, (i) general economic conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or general downturn in their business, (iii) local real estate conditions, (iv) increases in interest rates, and (v) increases in operating costs and real estate taxes. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company's SEC filings, including but not limited to the company's report on Form 10-K for the year ended December 31, 2007. Copies of each filing may be obtained from the company or the Securities & Exchange Commission.

The company refers you to the documents filed by the company from time to time with the Securities and Exchange Commission, specifically the section titled "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2007, as may be updated or supplemented in the company's Form 10-Q filings, which discuss these and other factors that could adversely affect the company's results.

Source: Kimco Realty Corporation

Released July 29, 2008