The Board of Directors of Equity LifeStyle Properties, Inc. (NYSE: ELS)
declared a dividend of $0.50 per common share, representing, on an
annualized basis, a dividend of $2.00 per common share. The dividend
will be paid on July 12, 2013 to stockholders of record on June 28,
2013. Our Board of Directors also declared a dividend of $0.421875 per
depositary share (each representing 1/100 of a share of our 6.75% Series
C Cumulative Redeemable Perpetual Preferred Stock) (NYSE: ELSPrC), which
represents, on an annualized basis, a dividend of $1.6875 per depositary
share. The dividend will be paid on July 1, 2013 to stockholders of
record on June 20, 2013.
This press release includes certain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
When used, words such as “anticipate,” “expect,” “believe,” “project,”
“intend,” “may be” and “will be” and similar words or phrases, or the
negative thereof, unless the context requires otherwise, are intended to
identify forward-looking statements and may include, without limitation,
information regarding our expectations, goals or intentions regarding
the future, and the expected effect of our recent acquisitions. These
forward-looking statements are subject to numerous assumptions, risks
and uncertainties, including, but not limited to:
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our ability to control costs, real estate market conditions, the
actual rate of decline in customers, the actual use of sites by
customers and our success in acquiring new customers at our properties
(including those that we may acquire);
-
our ability to maintain historical rental rates and occupancy with
respect to properties currently owned or that we may acquire;
-
our ability to retain and attract customers renewing, upgrading and
entering right-to-use contracts;
-
our assumptions about rental and home sales markets;
-
our assumptions and guidance concerning 2013 estimated net income,
funds from operations and normalizaed funds from operations;
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our ability to manage counterparty risk;
-
in the age-qualified properties, home sales results could be impacted
by the ability of potential homebuyers to sell their existing
residences as well as by financial, credit and capital markets
volatility;
-
results from home sales and occupancy will continue to be impacted by
local economic conditions, lack of affordable manufactured home
financing and competition from alternative housing options including
site-built single-family housing;
-
impact of government intervention to stabilize site-built single
family housing and not manufactured housing;
-
effective integration of recent acquisitions and our estimates
regarding the future performance of recent acquisitions;
-
unanticipated costs or unforeseen liabilities associated with recent
acquisitions;
-
ability to obtain financing or refinance existing debt on favorable
terms or at all;
-
the effect of interest rates;
-
the dilutive effects of issuing additional securities;
-
the effect of accounting for the entry of contracts with customers
representing a right-to-use the Properties under the Codification
Topic “Revenue Recognition;” and
-
other risks indicated from time to time in our filings with the
Securities and Exchange Commission.
These forward-looking statements are based on management's present
expectations and beliefs about future events. As with any projection or
forecast, these statements are inherently susceptible to uncertainty and
changes in circumstances. We are under no obligation to, and expressly
disclaim any obligation to, update or alter our forward-looking
statements whether as a result of such changes, new information,
subsequent events or otherwise.
We own or have an interest in 383 quality properties in 32 states and
British Columbia consisting of 142,682 sites. We are a
self-administered, self-managed real estate investment trust (“REIT”)
with headquarters in Chicago.
