ELS Declares Fourth Quarter Dividend

Rhea-AI Summary

Equity LifeStyle Properties (NYSE: ELS) announced a fourth quarter 2020 dividend of $0.3425 per common share, equating to an annualized dividend of $1.37 per share. The dividend payment will be made on January 8, 2021 to stockholders of record on December 24, 2020. This press release also includes forward-looking statements regarding the company’s performance and potential impacts from market conditions, customer retention, and the ongoing COVID-19 pandemic.

Positive

• Declared a fourth quarter dividend of $0.3425 per common share, signaling income for shareholders.

Negative

• Risks related to COVID-19 pandemic affecting occupancy and sales.
• Uncertainty in rental and home sales markets could impact revenue.
• Potential financial volatility and competition from alternative housing.

CHICAGO--(BUSINESS WIRE)--On December 10, 2020, the Board of Directors of Equity LifeStyle Properties, Inc. (NYSE:ELS) (referred to herein as “we,” “us,” and “our”) declared a fourth quarter 2020 dividend of $0.3425 per common share, representing, on an annualized basis, a dividend of $1.37 per common share. The dividend will be paid on January 8, 2021 to stockholders of record at the close of business on December 24, 2020.

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,” “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. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, including, but not limited to:

• our ability to control costs and real estate market conditions, our ability to retain customers, the actual use of Sites by customers and our success in acquiring new customers at our Properties (including those that we may acquire);
• our ability to maintain historical or increase future rental rates and occupancy with respect to properties currently owned or that we may acquire;
• our ability to attract and retain customers entering, renewing and upgrading membership subscriptions;
• our assumptions about rental and home sales markets;
• our ability to manage counter-party risk;
• our ability to renew our insurance policies at existing rates and on consistent terms;
• in the age-qualified Properties, home sales results could be impacted by the ability of potential homebuyers to sell their existing residences as well as by financial, credit and capital markets volatility;
• results from home sales and occupancy will continue to be impacted by local economic conditions, lack of affordable manufactured home financing and competition from alternative housing options including site-built single-family housing;
• impact of government intervention to stabilize site-built single-family housing and not manufactured housing;
• effective integration of recent acquisitions and our estimates regarding the future performance of recent acquisitions;
• the completion of future transactions in their entirety, if any, and timing and effective integration with respect thereto;
• unanticipated costs or unforeseen liabilities associated with recent acquisitions;
• our ability to obtain financing or refinance existing debt on favorable terms or at all;
• the effect of interest rates;
• the effect from any breach of our, or any of our vendor’s, data management systems;
• the dilutive effects of issuing additional securities;
• the outcome of pending or future lawsuits or actions brought against us, including those disclosed in our filings with the Securities and Exchange Commission; and
• other risks indicated from time to time in our filings with the Securities and Exchange Commission.

In addition, these forward-looking statements are subject to risks related to the COVID-19 pandemic, many of which are unknown, including the duration of the pandemic, the extent of the adverse health impact on the general population and on our residents, customers, and employees in particular, its impact on the employment rate and the economy, the extent and impact of governmental responses, and the impact of operational changes we have implemented and may implement in response to the pandemic.

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 “Risk Factors” in our most recent Annual Report on Form 10-K and 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 and operator of lifestyle-oriented properties and own or have an interest in 415 quality properties in 33 states and British Columbia consisting of 157,690 sites. We are a self-administered, self-managed, real estate investment trust with headquarters in Chicago.