Simon Property Group Sees FY20 Earnings Above Estimates; Hikes Dividend

(RTTNews) - While reporting its financial results for the fourth quarter on Tuesday, Simon Property Group, Inc. (SPG) forecast fiscal 2020 net income within a range of $7.15 to $7.30 share and Funds from Operations or FFO within a range of $12.25 to $12.40 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.06 per share for the year. Analysts' estimates typically exclude special items.

The company's board of directors declared a common stock dividend of $2.10 per share for the first quarter of 2020. This represents a 2.4 percent increase year-over-year. The dividend will be payable on February 28, 2020 to shareholders of record on February 14, 2020.