Simon Property Group (SPG), the largest U.S. real estate investment trust, said Thursday it plans to resume paying a cash dividend in 2010.

The retail landlord earlier this year adopted a dividend policy allowing it to pay 90% of its distribution in stock and 10% in cash to preserve capital amid a continuing credit crunch and weakening market fundamentals.

The company was part of a herd of REITs switching to such stock/cash combo dividends this year that fueled declines in share prices while remaining balance-sheet friendly.

"It's our desire to pay [a] cash dividend very soon...and not do the combo of stock and cash we planned...in 2009," said Chief Executive David Simon during a REIT conference at the Waldorf Astoria in New York City, adding that 2010 would mark the switch.

The announcement of the dividend change comes fresh off roughly $1.6 billion in equity sales from Simon Property recently. The CEO said the company doesn't plan to issue any more equity "at this point."

The company also said it was well capitalized for acquisitions and was looking at a few opportunities. But, there appeared to be no imminent transactions.

"We're being very thoughtful and cautious," Simon said. He said during the presentation that the company could add 50 to 100 basis points to any investment they made.

-By A.D. Pruitt, Dow Jones Newswires, 201-938-2269, angela.pruitt@dowjones.com