Equity LifeStyle Properties Inc. will conduct a 2-for-1 split of its common stock to increase its outstanding common shares to approximately 182.0 million from about 91.0 million and its operating partnership units to 10.4 million from 5.2 million.
The manufactured-home real estate investment trust said it will implement the stock split via a stock dividend, payable Oct. 15 to stockholders of record as of Oct. 1. Holders of the REIT's common stock will receive an additional share per common share held as of the record date.
Equity LifeStyle said its third-quarter dividend of 61.25 cents per common share will apply to pre-split shares only and will be paid Oct. 11 to shareholders of record at business close Sept. 27.
