Equity LifeStyle Properties, Inc. Approves Setting the Annual Dividend Rate for 2017; Declares Fourth Quarter 2016 Dividend, Payable on January 13, 2017; Declares Dividend for Depositary Share, Payable on December 30, 2016; Elects Matthew Williams to Board
November 08, 2016 at 04:16 pm
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The Board of Directors of Equity LifeStyle Properties, Inc. announced that the Board approved setting the annual dividend rate for 2017 at $1.95 per common share, an increase of $0.25 over the current $1.70 per common share for 2016.
Board of Directors also declared the fourth quarter 2016 dividend of $0.425 per common share, representing, on an annualized basis, a dividend of $1.70 per common share. The dividend will be paid on January 13, 2017 to stockholders of record on December 30, 2016.
Board of Directors also declared a dividend of $0.421875 per depositary share (each representing 1/100 of a share of 6.75% Series C Cumulative Redeemable Perpetual Preferred Stock), which represents, on an annualized basis, a dividend of $1.6875 per depositary share. The dividend will be paid on December 30, 2016 to stockholders of record on December 15, 2016.
Board of Directors also increased the size of the Board by one director and elected Mr. Matthew Williams to fill the vacancy created by the increase in the number of directors. Mr. Williams has been the Chief Executive Officer of The Martin Agency, an advertising agency and subsidiary of The Interpublic Group of Companies, Inc., since February 2013. Mr. Williams joined the agency in 1991 as an account executive. From there he moved to the strategic planning department in 1995, and subsequently, he was named partner in 2005. Mr. Williams then served as the agency's general manager, a role he was promoted to in July 2011.
Equity LifeStyle Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns a lifestyle-oriented properties consisting of property operations and home sales and rental operations within manufactured home (MH) and recreational vehicle (RV) communities and marinas. It operates through two segments: Property Operations and Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease properties and the Home Sales. The Home Sales and Rentals Operations segment purchases, sells and leases homes at the Properties. The Company owns interest in a portfolio of approximately 451 properties located throughout the United States and Canada containing approximately 172,465 individual developed areas. These properties are located in 35 states and British Columbia, with approximately 110 properties with lake, river or ocean frontage and approximately 120 properties within 10 miles of the coastal United States.
Equity LifeStyle Properties, Inc. Approves Setting the Annual Dividend Rate for 2017; Declares Fourth Quarter 2016 Dividend, Payable on January 13, 2017; Declares Dividend for Depositary Share, Payable on December 30, 2016; Elects Matthew Williams to Board
EQUITY LIFESTYLE PROPERTIES, INC. 
