Elme Communities (NYSE: ELME) has declared an initial special liquidating distribution of $14.67 per share, representing the company's first special liquidating distribution following the completion of its 19-property portfolio sale on November 12, 2025. The distribution is being made in accordance with the company’s voluntary plan of sale and liquidation previously approved by its shareholders.
As a result of this special dividend, 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, which is the payment date and the last day of trading before the January 8, 2026 ex-dividend date.
It's important to note that due bills obligate a seller of common shares to deliver the special dividend payable on such common shares to the buyer, meaning that persons who purchase ELME's common shares during the dividend right period are entitled to receive the special dividend, and those who sell ELME's common shares during the dividend right 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, any additional liquidating distributions, as well as the plan of sale and liquidation of the company, which are summarized in the definitive proxy filed on September 24, 2025.
This announcement comes as ELME continues to navigate its strategic initiatives and provide value to its shareholders during this phase of its operations. As a result of these announcements, the company's shares have moved 0.7% on the market, and are now trading at a price of $17.15. For more information, read the company's full 8-K submission here.
