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Aimco Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Aimco Equity

Note 8 — Aimco Equity

Common Stock

Aimco's Board is authorized to issue up to 510,587,500 shares of capital stock, which consists entirely of Common Stock as of December 31, 2024. Aimco had 136,351,966 and 140,576,102 shares of Common Stock issued and outstanding at December 31, 2024 and 2023, respectively.

Stock Repurchases

Aimco's Board has, from time to time, authorized Aimco to repurchase shares of its outstanding Common Stock. The total remaining authorization for future share repurchases is 16.3 million shares of its outstanding Common Stock, subject to certain customary limitations, which may be made from time to time in the open market or in privately negotiated transactions. This remaining authorization has no expiration date. During the years ended December 31, 2024, 2023, and 2022, Aimco repurchased approximately 4.9 million, 6.2 million, and 3.5 million shares of its Common Stock at weighted-average prices of $8.01, $7.33, and $7.21 per share, respectively.

Cash Dividends

As a REIT, Aimco is required to distribute annually to holders of shares of its Common Stock at least 90.0% of its “real estate investment trust taxable income,” which, as defined by the Code and United States Department of Treasury regulations, is generally equivalent to net taxable ordinary income. Aimco's Board determines and declares Aimco's dividends. In making a dividend determination, Aimco's Board considers a variety of factors, including REIT distribution requirements, current market conditions, liquidity needs, and other uses of cash, such as deleveraging and accretive investment activities.

A special cash dividend of $0.60 per share was declared on December 19, 2024, to stockholders of record on January 14, 2025. The cash dividend was paid on January 31, 2025. The declared dividends are classified within Dividends payable in Aimco's Consolidated Balance Sheets as of December 31, 2024. No dividends were declared or paid during the year ended December 31, 2023. On September 30, 2022, Aimco paid a special cash dividend of $0.02 per share to stockholders of record on September 14, 2022.