Aimco declares $1.30 per share partial liquidating distribution

Apartment Investment and Management Company announced that Aimco’s (AIV) Board of Directors declared a $1.30 per share liquidating distribution to be paid on June 3 to stockholders of record as of May 15. The distribution is being funded with net proceeds from recently closed asset sales, including $90c per share, representing the midpoint of the Expected 2Q Distribution range as previously disclosed and related to the twelve properties which were under contact as of February 9, plus an additional 40c per share related to the sale of 1045 on the Park in Atlanta, GA, the sale of Aimco’s partnership interest in a four asset portfolio known as The Casas, and excess cash on hand.