Shares of Apartment Investment and Management Co (NYSE:AIV) rose 3.3% after the company completed the sale of four suburban Boston properties for $490 million and declared a special dividend of $2.23 per share.
The dividend is scheduled for payment on October 15, 2025, to shareholders of record as of September 30, 2025, representing a total distribution of roughly $330 million.
“The timely execution of these asset sales and the associated distribution of proceeds to shareholders reemphasizes Aimco’s commitment to unlocking and maximizing value for stockholders,” said Wes Powell, Aimco’s President and CEO.
The properties sold include Royal Crest Estates in Marlboro and Warwick, Waterford Village, and Wexford Village. Part of the proceeds were used to retire mortgage loans and pay down the company’s revolving credit facility.
Aimco also noted that its Royal Crest Estates property in Nashua is under contract with Harbor Group International for $250 million, with closing expected within 30 days. Additionally, the previously announced sale of two Brickell, Miami assets remains on track to close in Q4 2025 for $520 million.
If all pending transactions are completed, Aimco will finalize $1.26 billion in sales for 2025, generating approximately $785 million in net proceeds. The company expects to pay down roughly $100 million in additional debt and return between $4.00 and $4.20 per share to shareholders.
Due to the size of the dividend, the NYSE has indicated that Aimco’s common shares will trade with “due bills,” reflecting the right to receive the special dividend from September 30 through October 15, 2025.
Apartment Investment and Management stock price
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