Apartment Investment and Management Company (AIV) will raise its quarterly dividend by 2.6 percent to $0.39 per share in the first quarter of 2019. This marks the 7th consecutive year of annual dividend increases by the REIT. Also a special dividend will be paid.

The dividend will be payable on March 22, 2019, to stockholders of record as of February 22, 2019. Additionally, stockholders will receive $1.54 per share predominantly in stock (based on Aimco’s closing price of $49.07 on February 1, 2019).

Stockholders will have the opportunity to elect to receive the special dividend in the form of all cash or all stock, subject to proration if either option is oversubscribed. Based on Aimco's closing share price on February 1, 2019, AIV estimates the aggregate value of the special dividend to be approximately $287.9 million, or $1.93 per share. However, the actual value will vary, depending on the price of Aimco common stock on the dividend valuation dates (March 11 and 12, 2019).

Apartment Investment and Management Company  (Aimco) is a real estate investment trust that is focused on the ownership and management of apartment communities located in the United States. It operates through two segments: conventional real estate and affordable real estate. Aimco’s affordable portfolio consists primarily of apartment communities that it manages that are owned through low-income housing tax credit partnerships.