Essex Announces Its 19th Consecutive Annual Dividend Increase
February 20, 2013 - Palo Alto, CA
Essex Property Trust, Inc. (NYSE: ESS) announced today its Board of Directors has approved a $0.44 per share annualized increase to its regular cash dividend. The first quarter dividend distribution, payable on April 15, 2013 to shareholders of record as of March 28, 2013, will be $1.21 per share. The declared dividend represents a 10% increase over the Company's prior quarterly dividend of $1.10 per share. On an annualized basis, the dividend represents a distribution of $4.84 per common share.
The Board of Directors has also declared regular quarterly distributions for its preferred share issuances as follows:
Series Record Date Payment Date Amount per Share
------ ------------- -------------- ----------------
G April 1, 2013 April 30, 2013 $0.30469
H April 1, 2013 April 15, 2013 $0.44531
The Annual Meeting of Shareholders will be held on Tuesday, May 14, 2013 at 1:00 p.m., at the Stanford Park Hotel, located at 100 El Camino Real, Menlo Park, CA 94025. Shareholders of record as of February 28, 2013 will be entitled to vote at the meeting.
About Essex Property Trust, Inc.
Essex Property Trust, Inc., an S&P 400 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages apartment communities located in highly desirable, supply-constrained markets. Essex currently has ownership interests in 165 multifamily properties with an additional 9 properties in various stages of development. Additional information about Essex can be found on the Company's web site at www.essexpropertytrust.com.
Director of Investor Relations