PORT WASHINGTON, N.Y., July 20 /PRNewswire-FirstCall/ -- Cedar Shopping Centers, Inc. (NYSE:CDR) today announced that its Board of Directors has approved payment of a dividend of $0.5546875 per share on the Company's 8 7/8% Series "A" Cumulative Redeemable Preferred Stock, payable on August 20, 2009 to shareholders of record as of the close of business on August 10, 2009. About Cedar Shopping Centers, Inc. Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of so-called "bread and butter" supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company presently owns and operates approximately 12.7 million square feet of gross leasable area at 121 shopping center properties, of which approximately 75% are anchored by supermarkets and/or drugstores with average remaining lease terms of approximately 11 years. The Company's stabilized properties have an occupancy rate of approximately 95%. The Company has also announced a pipeline of approximately 12 substantially pre-leased primarily supermarket- and drugstore-anchored development properties and development parcels. DATASOURCE: Cedar Shopping Centers, Inc. CONTACT: Leo S. Ullman, Chairman, CEO and President, Cedar Shopping Centers, Inc., +1-516-944-4525,

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