MEMPHIS, Tenn., Dec. 4, 2012 /PRNewswire/ -- MAA (NYSE: MAA) today announced that its board of directors voted to increase the quarterly common dividend by 5.3% to a quarterly payment of $0.695 per share, or $2.78 per share on an annual basis.
Eric Bolton, CEO, commented, "For 76 consecutive quarters, MAA has delivered a steady and growing cash dividend. We are pleased that our strong operating performance allows us to provide another increase to our shareholders."
The quarterly common dividend of $0.695 per share is payable on January 31, 2013 to shareholders of record on January 15, 2013As established in prior quarters, the company is declaring its quarterly common dividend in advance of its earnings announcement, which it expects to make on February 6, 2013. About MAAMAA is a self-administered, self-managed apartment-only real estate investment trust, which currently owns or has ownership interest in 49,795 apartment units focused on delivering full-cycle and superior investment performance throughout the Sunbelt region of the U.S. For further details, please refer to the MAA website at www.maac.com or contact Investor Relations at firstname.lastname@example.org. 6584 Poplar Ave., Memphis, TN 38138. 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV