CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYSE: EQR) today announced that the company declared dividends on its common and preferred shares.

The quarterly common share dividend of $0.4825 per share will be paid on January 9, 2009 to shareholders of record on December 22, 2008.

"We are pleased to maintain our existing quarterly cash dividend in the current, highly uncertain economic environment", said David J. Neithercut, Equity Residential's President and CEO. "To do so, while maintaining ample liquidity and credit capacity, is a testament to the strength of our balance sheet."

The following regular quarterly dividends will be paid on the company's preferred/depositary shares:

Series   Record Date         Payment Date        Amount/Share

E        December 22, 2008   January 2, 2009     $0.4375

H        December 22, 2008   December 31, 2008   $0.4375

K        December 19, 2008   December 31, 2008   $1.03625

N        December 22, 2008   January 15, 2009    $0.405

Equity Residential is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top U.S. growth markets. Equity Residential owns or has investments in 553 properties totaling 148,022 units in 23 states and the District of Columbia. For more information on Equity Residential, please visit our website at www.equityresidential.com.

    Source: Equity Residential