Equity LifeStyle Properties hikes dividend by 13.1%

Equity LifeStyle Properties (ELS) will raise its quarterly dividend by 13.1 percent to $0.41 per share in 2022. This follows a 5.8 percent increase by the REIT to 36.25 cents per share quarterly last year and marks 18 consecutive years of dividend increases.

The next ELS dividend will be paid on April 8, 2022 to stockholders of record at the close of business on March 25, 2022. A new annualized rate of $1.64 per share yields 2.2% at a stock price of $77.29. The annual dividend payment by ELS to shareholders will jump to an estimated $301 million.

Equity LifeStyle Properties, Inc. is a real estate investment trust. The company is an integrated owner and operator of lifestyle-oriented properties  consisting primarily of manufactured home communities, and recreational vehicle resorts and campgrounds. Equity Lifestyle has a unique business model where it owns the land upon which the company provides its customers the opportunity to place factory-built homes, cottages or RVs either on a long-term or short-term basis. The company's portfolio is geographically diversified with a focus on both retirement and vacation destinations. ELS properties attract retirees, vacationing families and second homeowners, while providing a lower cost home ownership alternative.