CLAIM #54575 · SPG (SPG) · 2024Q3 earnings call · Nov 1, 2024 · due Dec 31, 2024
“we are affirming our guidance range of $12.80 per share to $12.90 per share”
Brian McDade · CFO
In context
“ail lists totaling over 25 million customers. The expanded and rebranded digital marketplace adds on-sale and discounted merchandise while continuing to offer Outlet products from leading brands. This is the next phase in our journey to create the ultimate omnichannel experience. We also launched a new nationwide marketing campaign, Meet Me @themall. The campaign celebrates the shopping mall’s continued cachet as the go-to destination for all generations. Turning to our dividend, today we announced our dividend of $2.10 per share for the fourth quarter, a year-over-year increase of 10.5%. The dividend is payable on December 30th. This is the fourth consecutive quarter we have increased our dividend and the dividend is now back to our pre-pandemic record high. Finally, turning to guidance, we are affirming our guidance range of $12.80 per share to $12.90 per share, which excludes $0.14 per share year-to-date impact of the non-cash loss and steer value adjustments from the mark-to-market on the Klépierre exchangeable bond, which prior to the third quarter was only a $0.01 net non-cash loss, but is now $0.14 and needed to be highlighted. With that, thank you for your time today. David and I are now available for your questions. Operator? Operator: Thank you. [Operator Instructions] Thank you. Our first question is from Steve Sakwa with Evercore ISI. Please proceed with your question. Steve Sakwa: Yeah. Thanks. Good morning, David and Brian. It sounds like you’ve got great momentum on the leasing front and with the portfolio north of 96%. I’m just curious how you guys are attacking the lease expiration schedule over the next couple of years and whethe”
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SEC filings for SPG ↗ · Claim quote is verbatim from the 2024Q3 earnings call.