Equity Residential Declares First Quarter Dividends

Rhea-AI Summary

Equity Residential (NYSE: EQR) announced a 6.0% increase in its annualized dividend, now set at $2.65 per share. The first quarter dividend of $0.6625 will be paid on April 14, 2023 to shareholders on record by March 27, 2023. Additionally, a quarterly dividend of $1.03625 will be distributed on March 31, 2023 for Series K Preferred Shares. The Company’s Annual Meeting of Shareholders is scheduled for June 15, 2023. This dividend increase reflects the strength of Equity Residential's business and aims to enhance long-term value for shareholders.

Positive

• Annualized dividend increased by 6.0% to $2.65 per share.
• First quarter common share dividend of $0.6625 payable on April 14, 2023.
• Demonstrates company confidence and business strength.

Negative

• None.

Increases Annualized Dividend by 6.0%

Sets Record and Meeting Dates for 2023 Annual Meeting of Shareholders

CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYSE: EQR) today announced that its Board of Trustees declared quarterly dividends on the Company’s common and preferred shares. A regular common share dividend for the first quarter of $0.6625 per share will be paid on April 14, 2023 to shareholders of record on March 27, 2023. The annualized dividend of $2.65 per share is a 6.0% increase over the Company’s 2022 common share dividend.

“We are pleased to announce this increase in the Company’s dividend which reflects the current strength of our business as well as our confidence in its prospects going forward. This increase is a testament to our unwavering dedication to creating long-term value for our shareholders,” said Mark J. Parrell, Equity Residential’s President and CEO.

A quarterly dividend of $1.03625 per share will be paid on March 31, 2023 to shareholders of record on March 20, 2023 of the Company’s Series K Preferred Shares.

2023 Annual Meeting of Shareholders

In addition, the Company declared that its Annual Meeting of Shareholders will be held on Thursday, June 15, 2023 at 8:00 a.m. CT. Shareholders of record at the close of business on March 31, 2023 will be entitled to vote at the meeting.

About Equity Residential

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 308 properties consisting of 79,597 apartment units, with an established presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft. Worth and Austin. For more information on Equity Residential, please visit our website at www.equityapartments.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230316005506/en/

Marty McKenna

(312) 928-1901, mmckenna@eqr.com

Source: Equity Residential

FAQ

What is the new annualized dividend for Equity Residential (EQR)?

The new annualized dividend for Equity Residential is $2.65 per share, reflecting a 6.0% increase.

When will the first quarter dividend for common shares be paid?

The first quarter dividend of $0.6625 per share will be paid on April 14, 2023.

What is the date of the 2023 Annual Meeting of Shareholders for EQR?

The 2023 Annual Meeting of Shareholders for Equity Residential is scheduled for June 15, 2023.

When is the record date for the first quarter common share dividend?

The record date for the first quarter common share dividend is March 27, 2023.