Invitation Homes Announces Nearly 8% Increase to Cash Dividend And Accelerated Dividend Payment Dates

Rhea-AI Summary

Invitation Homes Inc. (NYSE: INVH) declares a regular quarterly cash dividend of $0.28 per share, a 7.7% increase over the prior quarterly dividend of $0.26 per share. The dividend will be paid on or before January 19, 2024, to stockholders of record of the Company’s common stock as of the close of business on December 27, 2023. The accelerated timing of the dividend offers greater flexibility for REIT tax planning purposes and commences an acceleration of the Company’s future dividend payment dates.

Positive

• 7.7% increase in quarterly cash dividend
• Accelerated timing of the dividend for REIT tax planning purposes

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• None.

DALLAS--(BUSINESS WIRE)-- Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the “Company”) announced today that its board of directors has declared a regular quarterly cash dividend of $0.28 per share payable on shares of its common stock, representing a 7.7% increase over the prior quarterly dividend of $0.26 per share. The dividend will be paid on or before January 19, 2024, to stockholders of record of the Company’s common stock as of the close of business on December 27, 2023.

The accelerated timing of the dividend, with a payment date approximately one-month earlier than the corresponding payment date in the prior year, has been implemented to offer greater flexibility for REIT tax planning purposes. It also commences an acceleration of the Company’s future dividend payment dates, which are now anticipated in April, July, and October, subject each quarter to approval by the Company’s board of directors.

About Invitation Homes

Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, "Together with you, we make a house a home," reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include, but are not limited to, statements related to the Company's expectations regarding the performance of the Company's business, its financial results, its liquidity and capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the single-family rental industry and the Company's business model, macroeconomic factors beyond the Company's control, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners’ association and insurance costs, poor resident selection and defaults and non-renewals by the Company's residents, the Company's dependence on third parties for key services, risks related to the evaluation of properties, performance of the Company's information technology systems, risks related to the Company's indebtedness, and risks related to the potential negative impact of unfavorable global and United States economic conditions (including inflation and rising interest rates), uncertainty in financial markets (including as a result of events affecting financial institutions), geopolitical tensions, natural disasters, climate change, and public health crises on the Company’s financial condition, results of operations, cash flows, business, associates, and residents. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, but are not limited to, those described under Part I. Item 1A. “Risk Factors” of its Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”), as such factors may be updated from time to time in the Company's periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release, in the Annual Report, and in the Company's other periodic filings. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231208037479/en/

Investor Relations Contact:

Scott McLaughlin

844.456.INVH (4684)

IR@InvitationHomes.com

Media Relations Contact:

Kristi DesJarlais

972.421.3587

Media@InvitationHomes.com

Source: Invitation Homes Inc.

FAQ

What is the latest dividend declared by Invitation Homes Inc. (NYSE: INVH)?

Invitation Homes Inc. (NYSE: INVH) has declared a regular quarterly cash dividend of $0.28 per share, representing a 7.7% increase over the prior quarterly dividend of $0.26 per share.

When will the dividend be paid to stockholders of Invitation Homes Inc. (NYSE: INVH)?

The dividend will be paid on or before January 19, 2024, to stockholders of record of the Company’s common stock as of the close of business on December 27, 2023.

Why has the timing of the dividend been accelerated by Invitation Homes Inc. (NYSE: INVH)?

The accelerated timing of the dividend has been implemented to offer greater flexibility for REIT tax planning purposes and commences an acceleration of the Company’s future dividend payment dates.

What is the percentage increase in the latest dividend declared by Invitation Homes Inc. (NYSE: INVH) compared to the prior quarterly dividend?

The latest dividend declared by Invitation Homes Inc. (NYSE: INVH) represents a 7.7% increase over the prior quarterly dividend.

What are the anticipated future dividend payment dates for Invitation Homes Inc. (NYSE: INVH)?

The future dividend payment dates are now anticipated in April, July, and October, subject each quarter to approval by the Company’s board of directors.