MEMPHIS, Tenn., Dec. 8, 2016 /PRNewswire/ -- MAA (NYSE:
MAA) announced that its board of directors today approved a 6%
increase in its common dividend for fiscal year 2017. This
dividend increase will raise the annualized dividend payout to
$3.48 per share of common stock, an
increase of $0.20 per share from the
prior dividend level. This is MAA's seventh consecutive
annual increase of its common dividend.
The quarterly common dividend of $0.87 per share is payable on January 31, 2017 to shareholders of record on
January 13, 2017. This will be
the 92nd consecutive quarter MAA has paid a cash dividend on its
common stock.
As established in prior quarters, the board of directors
declared the quarterly common dividend in advance of MAA's earnings
announcement that is expected to be made on February 1, 2017.
About MAA
MAA is a self-administered real estate
investment trust (REIT) and member of the S&P 500. MAA owns or
has ownership interest in apartment communities throughout the
Southeast and Southwest regions of the U.S. focused on delivering
full-cycle and strong investment performance. For further details,
please refer to www.maac.com or contact Investor Relations at
investor.relations@maac.com.
Certain matters in this press release may constitute
forward-looking statements within the meaning of Section 27-A of
the Securities Act of 1933 and Section 21E of the Securities and
Exchange Act of 1934. Such statements include statements made about
the payment of common dividends. The ability to meet the payment
of common dividends in or contemplated by the forward-looking
statements could differ materially from the projection due to a
number of factors, including a downturn in general economic
conditions or the capital markets, changes in interest rates and
other items that are difficult to control such as increases in real
estate taxes in many of our markets, as well as the other general
risks inherent in the apartment and real estate businesses.
Reference is hereby made to the filings of Mid-America Apartment
Communities, Inc. with the Securities and Exchange Commission,
including quarterly reports on Form 10-Q, reports on Form 8-K, and
its annual report on Form 10-K, particularly including the risk
factors contained in the latter filing.
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SOURCE MAA