Equity LifeStyle Declaring 2-for-1 Stock ‘Split’
Equity LifeStyle Properties Inc. (ELS) announced Tuesday (June 25) that its board of directors has declared a two-for-one stock split of its common stock.
The stock split will be in the form of a stock dividend payable on July 15 to stockholders of record as of July 5, according to a news release.
Holders of ELS common stock will receive an additional share for each share of common stock they hold as of the record date. The stock split will increase the total number of ELS outstanding shares of common stock and operating partnership units from approximately 41,700,000 and 3,700,000 to approximately 83,400,000 and 7,400,000, respectively.