This excerpt taken from the EQR 8-K filed Jul 30, 2009.
Announces Expected Reduction of Common Share Annual Dividend to $1.35 per Share
CHICAGO--(BUSINESS WIRE)--July 29, 2009--Equity Residential (NYSE: EQR) today reported results for the quarter and six months ended June 30, 2009. All per share results are reported on a fully-diluted basis.
“We are pleased to deliver better than expected second quarter results as well as forecast modestly higher same store net operating income for the year than we originally thought,” said David J. Neithercut, Equity Residential’s President and CEO. “While lower operating expenses are the major contributor to our improved forecast, we are pleased that our revenue expectation for the year is essentially unchanged because our commitment to resident satisfaction is enabling us to retain existing residents at renewal rents higher than might have been expected in this extremely difficult economic climate.”