AMH Announces 22% Increase in Quarterly Distribution

Rhea-AI Summary

AMH (NYSE: AMH), a prominent owner and operator of single-family rental homes, announced a 22% increase in its quarterly dividend, raising it from $0.18 to $0.22 per share. This decision reflects the Company's commitment to enhancing shareholder value. The dividend will be distributed in cash on March 31, 2023, to shareholders recorded by March 15, 2023. Additionally, distributions on preferred shares were specified: $0.36719 for 5.875% Series G and $0.39063 for 6.250% Series H shares, also payable on the same date. AMH continues to focus on delivering quality housing and maintaining a solid reputation within the real estate sector.

Positive

• Quarterly dividend increased by 22%, enhancing shareholder returns.
• Strengthened financial position indicated by the ability to raise dividends.

Negative

• None.

LAS VEGAS, Feb. 10, 2023 /PRNewswire/ -- AMH (NYSE: AMH) (the "Company"), a leading owner, operator and developer of single-family rental homes, today announced that the Board of Trustees declared a dividend of $0.22 per share on the Company's common shares for the first quarter of 2023. This represents an increase of 22 percent versus the prior quarterly dividend rate of $0.18 per share. The distribution will be payable in cash on March 31, 2023 to shareholders of record on March 15, 2023.

The Board of Trustees also declared a per share quarterly distribution on the Company's cumulative redeemable perpetual preferred shares of $0.36719 per share on the 5.875% Series G shares and $0.39063 per share on the 6.250% Series H shares payable in cash on March 31, 2023 to shareholders of record on March 15, 2023.

About AMH

AMH (NYSE: AMH), previously known as American Homes 4 Rent, is a leading single-family property owner, leasing operator and build-to-rent developer. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.

In recent years, we've been named one of Fortune's 2022 Best Workplaces in Real Estate™, a 2023 Great Place to Work®, a 2022 Top U.S. Homebuilder by Builder100, one of America's Most Responsible Companies 2023 and America's Most Trusted Companies 2022 by Newsweek and Statista Inc., and a Top ESG Regional Performer by Sustainalytics. As of September 30, 2022, we owned nearly 59,000 single-family properties in the Southeast, Midwest, Southwest and Mountain West regions of the United States. Additional information about AMH is available on our website at www.amh.com.

AMH refers to one or more of American Homes 4 Rent, American Homes 4 Rent, L.P. and their subsidiaries and joint ventures. In certain states, we operate under AMH Living or American Homes 4 Rent. Please see www.amh.com/dba to learn more.

Forward-Looking Statements

This press release contains "forward-looking statements" that relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as "believe," "expect," "will," "intend," "anticipate" or other words that convey the uncertainty of future events or outcomes. These forward-looking statements include the payment and anticipated timing of the payment of distributions of the Company's common and preferred shares. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While the Company's management considers these expectations to be reasonable, they are inherently subject to risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control and could adversely affect our cash flows and ability to pay distributions. Additional information about these and other important factors that may cause our actual results to differ materially from anticipated results expressed or implied by these forward-looking statements is available in the Company's most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement to conform to actual results or changes in expectations, except as required by applicable law.

Contacts:

AMH Investor Relations
Nicholas Fromm
Phone: (855) 794-2447
Email: investors@amh.com 

AMH Media Relations
Phone: (855) 774-4663
Email: media@amh.com 

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SOURCE AMH

FAQ

What is AMH's new quarterly dividend amount for 2023?

AMH's new quarterly dividend amount is $0.22 per share.

When will AMH's dividend be payable?

AMH's dividend will be payable on March 31, 2023.

What is the percentage increase in AMH's quarterly dividend?

AMH's quarterly dividend has increased by 22%.

What are the preferred share distributions announced by AMH?

Preferred share distributions announced by AMH are $0.36719 for Series G and $0.39063 for Series H.

Who declared the dividend increase for AMH?

The Board of Trustees declared the dividend increase for AMH.