ELS DECLARES THIRD QUARTER 2024 DIVIDEND

Rhea-AI Summary

Equity LifeStyle Properties, Inc. (NYSE: ELS) has announced its third quarter 2024 dividend. The Board of Directors declared a dividend of $0.4775 per common share on July 30, 2024. This dividend represents an annualized dividend of $1.91 per common share. The dividend will be paid on October 11, 2024 to stockholders of record as of the close of business on September 27, 2024. This announcement reflects ELS's commitment to providing regular returns to its shareholders and maintaining its dividend policy.

Positive

• Consistent dividend payment indicates financial stability
• Annualized dividend of $1.91 per share suggests strong shareholder returns

Negative

• None.

Insights

Financial Analyst

Equity LifeStyle Properties' (ELS) announcement of a $0.4775 quarterly dividend maintains its consistent payout strategy. This translates to an annualized dividend of $1.91 per share, signaling stability in the company's financial position and commitment to shareholder returns.

While dividend declarations are routine, they offer insights into a company's financial health and management's outlook. In ELS's case, the unchanged dividend suggests:

• Financial Stability: ELS likely anticipates steady cash flows, enabling it to maintain its dividend without compromising financial flexibility.
• Conservative Approach: By not increasing the dividend, ELS may be preparing for potential market uncertainties or preserving capital for growth opportunities.
• Yield Considerations: Investors should note that with potential stock price fluctuations, the dividend yield may vary. As of the last closing price, this represents a yield of approximately 2.3%, which is modest but consistent with the real estate sector's average.

For long-term investors, ELS's dividend policy reflects a balance between providing shareholder returns and maintaining financial prudence. However, it's important to monitor the company's upcoming financial reports to gauge the sustainability of this dividend level and potential for future growth.

CHICAGO, July 30, 2024 /PRNewswire/ -- On July 30, 2024, the Board of Directors (the "Board") of Equity LifeStyle Properties, Inc. (NYSE: ELS) (referred to herein as "we," "us," and "our") declared a third 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 October 11, 2024 to stockholders of record at the close of business on September 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 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 172,866 sites as of July 22, 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-third-quarter-2024-dividend-302210318.html

SOURCE Equity Lifestyle Properties, Inc.

FAQ

What is the amount of ELS's third quarter 2024 dividend?

ELS declared a third quarter 2024 dividend of $0.4775 per common share.

When will ELS pay its Q3 2024 dividend?

ELS will pay the Q3 2024 dividend on October 11, 2024.

What is the annualized dividend for ELS based on the Q3 2024 declaration?

Based on the Q3 2024 declaration, the annualized dividend for ELS is $1.91 per common share.

What is the record date for ELS's third quarter 2024 dividend?

The record date for ELS's third quarter 2024 dividend is September 27, 2024.