Equity Residential (NYSE:EQR) Q4 2017 Earnings Conference Call - Final Transcript
Jan 31, 2018 • 11:00 am ET
David J. Neithercut
questions I want to quickly comment on the change in the Company's dividend policy that we announce last night.
Coming out of the great recession with uncertain cash flow and an elevated level of development opportunities we adopted a conservative and totally transparent dividend policy pegged off of the midpoint of our initial annualized normalized FFO guidance. With our development spend reduced significantly we'll have a meaningful increase in uncommitted cash flow going forward and believe that increasing the distribution to our shareholders under this new policy is a very good use of cash at this time.
So with all that said, operator we'll be happy now to open the call for Q&A.