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REIT Shareholders Net 70-Cent Cash Dividend

Denver-based Aimco shareholders of record will know it's been a good year come Aug. 11 when they receive a 70-cent dividend per share in second quarter earnings.

By Connie Gore | Updated on July 28, 2000

DENVER—Come Aug. 11, Aimco shareholders of record will know it’s been a good year. The Denver-based REIT will pay a 70-cent dividend per share for the quarter ended June 30. The payout reflects a 16.8% per-share increase in FFO over the $1.01 per common share earnings for Q2 1999. Aimco’s adjusted FFO, which the company uses to measure its economic profitability, totals $1.07 per common share in comparison to last year’s second quarter of 92-cents per share.

“Same store” sales for the REIT’s 552 apartment communities, which total 151,398 units, reflect a 5.1% increase in revenues, 3.7% increase in operating expenses and a 5.9% increase in net operating income between second quarter 2000 and 1999. There was a slight change in the communities’ weighted average physical occupancy while the average monthly rental of $642 per occupied unit reflects a 4.9% increase from last year.

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