Equity LifeStyle Properties (ELS) will raise its quarterly dividend by 14.3 percent from $0.4375 to $0.50 per share in 2013. Last year the quarterly dividend was hiked by 16.7 percent.
Equity LifeStyle Properties, Inc. is a real estate investment trust. The company is an integrated owner and operator of lifestyle-oriented properties consisting primarily of manufactured home communities, and recreational vehicle resorts and campgrounds. Equity Lifestyle has a unique business model where it owns the land upon which the company provides its customers the opportunity to place factory-built homes, cottages or RVs either on a long-term or short-term basis. The company's portfolio is geographically diversified with a focus on both retirement and vacation destinations. ELS properties attract retirees, vacationing families and second homeowners, while providing a lower cost home ownership alternative.