Equity Residential (NYSE: EQR) announced today that its Board of Trustees has declared a special cash dividend of $3 per common share which will be paid on October 14, 2016 to shareholders of record on September 26, 2016.

“This distribution will bring the total capital returned to our shareholders in 2016 to more than $4 billion, the largest amount ever paid in the real estate sector,” said David J. Neithercut, Equity Residential’s President and CEO. “The return of this capital following the sale of non-core assets, which produced an Unlevered Internal Rate of Return of 11.8%, is a sound capital allocation decision and positions Equity Residential with a portfolio of properties in high density coastal markets that will produce superior, long-term risk adjusted returns for our shareholders.”

The Company today also announced that its Board of Trustees declared quarterly dividends on the Company’s common and preferred shares. A regular common share dividend for the third quarter of $0.50375 per share will be paid on October 14, 2016 to shareholders of record on September 26, 2016.

A quarterly dividend of $1.03625 per share will be paid on September 30, 2016 to shareholders of record on September 16, 2016 of the Company’s Series K Preferred Shares.

For a definition of Unlevered Internal Rate of Return, please see the Company’s Second Quarter 2016 earnings release dated July 26, 2016.

Equity Residential is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top U.S. growth markets. Equity Residential owns or has investments in 306 properties consisting of 78,181 apartment units. For more information on Equity Residential, please visit our website at www.equityapartments.com.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements and information within the meaning of the federal securities laws. These statements are based on current expectations, estimates, projections and assumptions made by management. While Equity Residential’s management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks, including, without limitation, changes in general market conditions, including the rate of job growth and cost of labor and construction material, the level of new multifamily construction and development, competition and local government regulation. Other risks and uncertainties are described under the heading “Risk Factors” in our Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC) and available on our website, www.equityapartments.com. Many of these uncertainties and risks are difficult to predict and beyond management’s control. Forward-looking statements are not guarantees of future performance, results or events. Equity Residential assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.