Aimco Announces an Update to its Share Repurchase Authorization and a Special Cash Dividend
28 Juli 2022 - 10:15PM
Business Wire
(NYSE: AIV) - Apartment Investment and Management Company
(“Aimco”) today announced that its Board of Directors updated the
existing share repurchase authorization and declared a special cash
dividend of $0.02 per share.
The existing share repurchase authorization has been updated
from 10 million shares to 15 million shares. With this
authorization, Aimco may purchase its Class A common shares from
time to time with the amount and timing of purchases dependent upon
a number of factors, including the price and availability of
shares, trading volume, and general market conditions. The
authorization has no time limit and may be suspended or
discontinued at any time.
The special cash dividend of $0.02 per share complies with REIT
distribution requirements and is payable on September 30, 2022, to
shareholders of record at market close on September 14, 2022.
Wes Powell, Aimco President and Chief Executive Officer
commented: “I am very pleased with the results produced by the
Aimco platform, portfolio, and strategic plan over the past 18
months. We remain focused on continuing our track record of
value-creating real estate investments while, at the same time,
this authorization provides additional flexibility to unlock value
for Aimco shareholders.”
About Aimco
Aimco is a diversified real estate company primarily focused on
value add, opportunistic, and alternative investments, targeting
the U.S. multifamily sector. Aimco’s mission is to make real estate
investments where outcomes are enhanced through our human capital
so that substantial value is created for investors, teammates, and
the communities in which we operate. Aimco is traded on the New
York Stock Exchange as AIV. For more information about Aimco,
please visit our website www.aimco.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220728005964/en/
Matt Foster Sr. Director of Capital Markets and Investor
Relations investor@aimco.com 303-793-4661
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