Elme Communities (NYSE: ELME) has declared an initial special liquidating distribution of $14.67 per share, which represents the company's first special dividend following the sale of its 19-property portfolio on November 12, 2025. This distribution will be paid on January 7, 2026, to shareholders of record as of December 22, 2025.
In addition to the special distribution, the company has also entered into a new term loan on November 12, 2025, and has repaid all of its other indebtedness, along with covering costs and expenses related to the transactions. Furthermore, escrows and reserves have been established in connection with the new term loan.
The New York Stock Exchange (NYSE) has advised that ELME's common shares will trade with "due bills" representing an assignment of the right to receive the special dividend from the record date of December 22, 2025 through the closing of trading on the NYSE on January 7, 2026. This means that persons who purchase ELME's common shares during this period are entitled to receive the special dividend, while those who sell the shares during this period are not entitled to the special dividend.
The company has also provided information regarding the expected U.S. federal income tax consequences of the special dividend and any additional liquidating distributions in the definitive proxy filed on September 24, 2025.
As a result of these announcements, the company's shares have moved 1.2% on the market, and are now trading at a price of $17.355. Check out the company's full 8-K submission here.
