ELS Declares Fourth Quarter 2024 Dividend

Rhea-AI Summary

Equity LifeStyle Properties (NYSE: ELS) has announced its fourth quarter 2024 dividend declaration. The Board of Directors approved a dividend of $0.4775 per common share, which represents an annualized dividend of $1.91 per common share. The dividend will be distributed on January 10, 2025, to stockholders of record as of December 27, 2024.

Positive

• Maintaining consistent dividend payments, indicating financial stability
• Annualized dividend of $1.91 per share demonstrates commitment to shareholder returns

Negative

• None.

Insights

Financial Analyst

The quarterly dividend announcement of $0.4775 per share maintains ELS's consistent payout track record in the REIT sector. On an annualized basis, the $1.91 per share dividend represents a yield of approximately 2.4% based on current stock price levels. This regular dividend declaration demonstrates the company's stable cash flow generation from its portfolio of manufactured home communities and RV resorts. While the dividend remains unchanged from previous quarters, the predictable income stream is particularly appealing to income-focused investors in the current high-interest-rate environment. The January 2025 payment timing aligns with typical REIT distribution schedules, maintaining the company's position as a reliable income-generating investment vehicle.

CHICAGO, Oct. 30, 2024 /PRNewswire/ -- On October 29, 2024, the Board of Directors (the "Board") of Equity LifeStyle Properties, Inc. (NYSE: ELS) (referred to herein as "we," "us," and "our") declared a fourth quarter 2024 dividend of $0.4775 per common share, representing, on an annualized basis, a dividend of $1.91 per common share. The dividend will be paid on January 10, 2025 to stockholders of record at the close of business on December 27, 2024.

This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used, words such as "anticipate," "expect," "believe," "project," "estimate," "guidance," "intend," "may be" and "will be" and similar words or phrases, or the negative thereof, unless the context requires otherwise, are intended to identify forward-looking statements and may include, without limitation, information regarding our expectations, goals or intentions regarding the future, and the expected effect of our acquisitions. Forward-looking statements, by their nature, involve estimates, projections, goals, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in a forward-looking statement due to a number of factors, which include, but are not limited to the following: (i) the mix of site usage within the portfolio; (ii) yield management on our short-term resort and marina sites; (iii) scheduled or implemented rate increases on community, resort and marina sites; (iv) scheduled or implemented rate increases in annual payments under membership subscriptions; (v) occupancy changes; (vi) our ability to attract and retain membership customers; (vii) change in customer demand regarding travel and outdoor vacation destinations; (viii) our ability to manage expenses in an inflationary environment; (ix) changes in debt service and interest rates; (x) our ability to integrate and operate recent acquisitions in accordance with our estimates; (xi) our ability to execute expansion/development opportunities in the face of changes impacting the supply chain or labor markets; (xii) completion of pending transactions in their entirety and on assumed schedule; (xiii) our ability to attract and retain property employees, particularly seasonal employees; (xiv) ongoing legal matters and related fees; (xv) costs to clean up and restore property operations and potential revenue losses following storms or other unplanned events; and (xvi) the potential impact of, and our ability to remediate material weaknesses in our internal control over financial reporting.

For further information on these and other factors that could impact us and the statements contained herein, refer to our filings with the Securities and Exchange Commission, including the "Risk Factors" and "Forward-Looking Statements" sections in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.

These forward-looking statements are based on management's present expectations and beliefs about future events. As with any projection or forecast, these statements are inherently susceptible to uncertainty and changes in circumstances. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements whether as a result of such changes, new information, subsequent events or otherwise.

We are a fully integrated owner of lifestyle-oriented properties and own or have an interest in 452 properties located predominantly in the United States consisting of 172,870 sites as of October 21, 2024. We are a self-administered, self-managed, real estate investment trust with headquarters in Chicago.

View original content:https://www.prnewswire.com/news-releases/els-declares-fourth-quarter-2024-dividend-302292089.html

SOURCE Equity Lifestyle Properties, Inc.

FAQ

What is the Q4 2024 dividend amount announced by Equity LifeStyle Properties (ELS)?

Equity LifeStyle Properties announced a Q4 2024 dividend of $0.4775 per common share.

When will ELS pay its Q4 2024 dividend?

ELS will pay the Q4 2024 dividend on January 10, 2025, to stockholders of record as of December 27, 2024.

What is the annualized dividend for ELS based on the Q4 2024 declaration?

Based on the Q4 2024 dividend declaration, ELS's annualized dividend is $1.91 per common share.