Essex Announces Its 28th Consecutive Annual Dividend Increase

Rhea-AI Summary

Essex Property Trust, Inc. (NYSE:ESS) has announced a 5.3% increase in its annual cash dividend, marking the 28th consecutive annual dividend rise. The first-quarter dividend will be $2.20 per share, payable on April 14, 2022, to shareholders on record as of March 31, 2022. This annualized dividend distribution amounts to $8.80 per common share. The company will hold its virtual Annual Meeting of Shareholders on May 10, 2022, allowing shareholders of record as of February 25, 2022 to participate.

Positive

• 5.3% increase in annual cash dividend reflects company growth.
• 28 consecutive years of dividend increases demonstrate financial stability.
• Annualized dividend distribution of $8.80 per share provides income to shareholders.

Negative

• None.

Establishes Record Date for the Annual Shareholders’ Meeting

SAN MATEO, Calif.--(BUSINESS WIRE)-- Essex Property Trust, Inc. (NYSE:ESS) announced today that its Board of Directors has approved a 5.3% increase to its annual cash dividend. This represents the 28^th consecutive annual dividend increase. The Board of Directors has declared a first quarter dividend of $2.20 per share, payable on April 14, 2022 to shareholders of record as of March 31, 2022. On an annualized basis, the dividend represents a distribution of $8.80 per common share.

The Annual Meeting of Shareholders will be held virtually on Tuesday, May 10, 2022 at 1:00 p.m. Pacific Time or 4:00 p.m. Eastern. Shareholders of record as of February 25, 2022 will be entitled to vote at the meeting. Further information regarding how to access and vote at the virtual Annual Meeting will be contained in the proxy materials to be filed with the U.S. Securities and Exchange Commission.

About Essex Property Trust, Inc.

Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 253 apartment communities comprising approximately 62,000 apartment homes with an additional 2 properties in various stages of active development. Additional information about the Company can be found on the Company’s website at www.essex.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224006023/en/

Rylan Burns

Group VP of Private Equity & Finance

(650) 655-7800

rburns@essex.com

Source: Essex Property Trust, Inc.

FAQ

What is the new dividend amount for Essex Property Trust (ESS)?

Essex Property Trust has announced a new dividend amount of $2.20 per share.

When will the dividend be paid to shareholders of Essex Property Trust (ESS)?

The dividend will be paid on April 14, 2022.

What is the significance of the 5.3% dividend increase for Essex Property Trust (ESS)?

The 5.3% increase in the dividend indicates financial growth and stability for the company.

When is Essex Property Trust's Annual Meeting of Shareholders?

The Annual Meeting of Shareholders will be held virtually on May 10, 2022.

What is the record date for voting at the Annual Meeting of Essex Property Trust (ESS)?

The record date for voting at the Annual Meeting is February 25, 2022.