Sun Communities, Inc. Increases Annual Distribution Rate for 2024
February 20, 2024 at 05:22 pm EST
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Sun Communities, Inc.'s Board of Directors has approved setting the 2024 annual distribution rate at $3.76 per common share and unit, an increase of $0.04, or 1.1%, over the current annual dividend rate of $3.72 per common share and unit for 2023. This increase will begin with the first quarter distribution to be paid in April 2024. While the Board of Directors has adopted the new annual distribution policy, the amount of each quarterly distribution on the Company's common stock will be subject to approval by the Board of Directors.
Sun Communities, Inc. is a fully integrated real estate investment trust (REIT). The Company owns manufactures housing (MH) and recreational vehicle (RV) communities and marinas in the United States, the United Kingdom, and Canada. The Company operates through three segments: MH communities, RV communities, and Marinas. The MH communities segment offers affordable housing to individuals and families, while also providing certain amenities. The RV communities offers affordable vacation opportunities to individuals and families with various amenities. The Marinas offers wet slip and dry storage space leases, end-to-end services, fuel sales and other amenities. The Company owns and operates, directly or indirectly, or had an interest in, a portfolio of 667 developed properties located in the United States, the United Kingdom, and Canada, including 353 MH communities, 179 RV communities and 135 marinas. The Companyâs properties contained an aggregate of 227,340 developed sites.
SUN COMMUNITIES, INC. 
