BRIEF-Simon Property likely to return to all-cash div in 2010 -CEO - News

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BRIEF-Simon Property likely to return to all-cash div in 2010 -CEO

By: AFX | 30 Oct 2009 | 12:04 PM ET

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Oct 30 (Reuters) - Simon Property Group Inc: * CEO says "we believe our retailers will have a decent holiday season." * CEO says Q3 net operating income impacted by bad debt expense by bankrupt tenants and lower store sales * CEO says tenants feeling more comfortable and starting to pay their bills in a more timely manner * CEO says leasing is a challenge * CEO focused domestically for acquistions, but does not expect any purchases in 2009 * CEO says does not see lease spreads turning negative * CFO total rent relief in 2009 likely will be $7-$9 million * CEO says co plans to return to all cash dividend next year, subject to market conditions and board approval at near today's level of $0.60 per share ((New York Equities Desk; tel: +1 646 223 6000)) (For more news about Simon Property Group Inc click here:) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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