Simon Property Group, the largest U.S. shopping-mall owner, increased its quarterly dividend 5.6 percent after reporting a rise in funds from operations that beat analyst estimates.
FFO, which gauges a property company’s ability to generate cash, rose to 6.3 percent $678.9 million, or $1.91 a share, from $638.7 million, or $1.80, a year earlier, the Indianapolis-based real estate investment trust said Friday. Analysts expected FFO of $1.90 a share, the average of 18 estimates in a Bloomberg survey. The dividend was raised to 95 cents a share from 90 cents.
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