MAA Announces 5.5% Common Dividend Increase

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Dec 03, 2014, 04:24 ET

MEMPHIS, Tenn., Dec. 3, 2014 /PRNewswire/ -- MAA (NYSE: MAA) today announced that its board of directors voted to increase the quarterly common dividend by 5.5% to a quarterly payment of $0.77 per share, or $3.08 per share on an annual basis.

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Chairman and CEO Eric Bolton commented, "MAA has provided a consistent and growing dividend to its shareholders over 84 consecutive quarters. In consideration of the Company's past performance and prospects for the future, the Board is pleased to raise the distribution again."

The quarterly common dividend of $0.77 per share is payable on January 30, 2015 to shareholders of record on January 15, 2015.

As 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 4, 2015.

About MAA

MAA is a self-administered real estate investment trust (REIT) and member of the S&P Mid Cap 400 index. MAA currently owns or has ownership interest in apartment communities throughout the Sunbelt region of the U.S. focused on delivering full-cycle and superior investment performance. For further details, please refer to the MAA website at www.maac.com or contact Investor Relations at [email protected].

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