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Simon Property Group Raises FY18 Guidance - Quick Facts

Simon Property Group (SPG) announced, for 2018, the company currently estimates net income to be within a range of $7.33 to $7.43 per share and FFO to be within a range of $11.95 to $12.05 per share. In January, the company projected net income in a range of $6.90 to $7.02 per share and FFO in a range of $11.90 to $12.02 per share.

First-quarter FFO was $1.026 billion, or $2.87 per diluted share, as compared to $985.0 million, or $2.74 per diluted share, in the prior year period, an increase of 4.7%.

Simon's Board of Directors declared a quarterly common stock dividend of $1.95 per share. This is an 11.4% increase year-over-year. The dividend will be payable on May 31, 2018 to stockholders of record on May 17, 2018.

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