Exhibit 99.1

Company Release - 03/15/2006 07:00

KIMCO REALTY CORPORATION DECLARES COMMON STOCK AND CLASS F PREFERRED STOCK
DIVIDENDS

NEW HYDE PARK, N.Y., March 15 /PRNewswire-FirstCall/ -- Kimco Realty Corporation
(NYSE: KIM) announced today that its Board of Directors declared a dividend of
33 cents per common share payable on April 17, 2006 to common shareholders of
record on April 5, 2006.

The Board also declared the Company's dividend on its Class F Cumulative
Redeemable Preferred Stock (NYSE: KIMprF). This dividend of 41.5625 cents per
Class F Depositary Share will similarly be paid on April 17, 2006 to Class F
preferred shareholders of record on April 3, 2006.

Kimco, a publicly-traded real estate investment trust, has specialized in
shopping center acquisitions, development and management for over 45 years, and
owns and operates the nation's largest portfolio of neighborhood and community
shopping centers with interests in more than 1,046 properties comprising
approximately 135.5 million square feet of leasable space located throughout 44
states, Canada and Mexico.

Contact: Scott G. Onufrey

Kimco Realty Corporation
3333 New Hyde Park Road, Suite 100, P.O. Box 5020, New Hyde Park, NY 11042-0020
- -- Phone: (516) 869-9000 -- Fax: (516) 869-7250 SOURCE Kimco Realty Corporation
http://www.kimcorealty.com/