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Simon boosts outlook and dividend as profit beats

Simon Property Group Inc. raised its guidance for the year and boosted its quarterly dividend as third-quarter earnings soared 67%, beating analysts' estimates on strong revenue from new outlets.

The company now expects 2015 earnings of $5.50 to $5.55 a share, up from its previous range of $5.47 to $5.52 a share. It expects funds from operations between $10.10 and $10.15 a share, up from its prior range of $10.02 to $10.07.

Simon also raised its quarterly dividend to $1.60 a share, a 23% increase from the year-earlier level. This is the fourth consecutive quarter the company has raised its...