ELS Declares Second Quarter 2023 Dividend

Rhea-AI Summary

On April 25, 2023, Equity LifeStyle Properties (NYSE:ELS) announced a second quarter 2023 dividend of $0.4475 per common share, which totals $1.79 on an annual basis. This dividend is scheduled for payment on July 14, 2023, to shareholders recorded by the end of business on June 30, 2023. The company operates a portfolio of 450 properties across the US, encompassing 171,477 sites. The press release also includes forward-looking statements about future expectations and operational challenges, such as managing expenses amid inflation and potential impacts from customer demand fluctuations. Investors should consider these factors, as they may influence future financial performance.

Positive

• Declared a second quarter 2023 dividend of $0.4475 per share, indicating confidence in financial health.
• Annualized dividend totals $1.79 per share, providing consistent income to shareholders.
• Owns or has interests in 450 properties with 171,477 sites, showcasing a robust asset base.

Negative

• Forward-looking statements indicate potential operational risks from inflation and customer demand changes.
• Mention of ongoing legal matters and fees as potential financial burdens.

CHICAGO--(BUSINESS WIRE)-- On April 25, 2023, the Board of Directors of Equity LifeStyle Properties, Inc. (NYSE:ELS) (referred to herein as “we,” “us,” and “our”) declared a second quarter 2023 dividend of $0.4475 per common share, representing, on an annualized basis, a dividend of $1.79 per common share. The dividend will be paid on July 14, 2023 to stockholders of record at the close of business on June 30, 2023.

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. 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) our ability to integrate and operate recent acquisitions in accordance with our estimates; (x) our ability to execute expansion/development opportunities in the face of supply chain delays/shortages; (xi) completion of pending transactions in their entirety and on assumed schedule; (xii) our ability to attract and retain property employees, particularly seasonal employees; (xiii) ongoing legal matters and related fees; and (xiv) costs to restore property operations and potential revenue losses following storms or other unplanned events.

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 450 properties located predominantly in the United States consisting of 171,477 sites as of April 17, 2023. We are a self-administered, self-managed, real estate investment trust with headquarters in Chicago.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005943/en/

Paul Seavey

(800) 247-5279

Source: Equity LifeStyle Properties, Inc.

FAQ

What is the dividend amount declared by Equity LifeStyle Properties for Q2 2023?

Equity LifeStyle Properties declared a dividend of $0.4475 per common share for Q2 2023.

When will the dividend be paid to shareholders?

The dividend will be paid on July 14, 2023, to stockholders of record by June 30, 2023.

What is the annualized dividend for Equity LifeStyle Properties?

The annualized dividend for Equity LifeStyle Properties is $1.79 per common share.

What challenges does Equity LifeStyle Properties face according to the press release?

Challenges include managing expenses in an inflationary environment and fluctuations in customer demand.

What does the forward-looking statement in the press release indicate?

The forward-looking statement indicates uncertainties that could affect future performance and outcomes.