Equity LifeStyle Properties (ELS) will raise its quarterly dividend by 11.4 percent to $0.6125 per share in the first quarter of 2019. This follows 14 consecutive years of annual dividend increases by the REIT.

The dividend will be paid on April 12, 2019 to stockholders of record at the close of business on March 29, 2019. A new annualized rate of $2.45 per share yields 2.3% at a stock price of $107.62.

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.