MAA Announces 12% Increase to Quarterly Common Dividend

Rhea-AI Summary

MAA (NYSE: MAA) announced a quarterly dividend increase of $1.40 per share, to be paid on January 31, 2023, for shareholders on record by January 13, 2023. This marks a 12% increase over the previous dividend rate, raising the annualized payout to $5.60 per share. MAA has a history of 13 consecutive years of dividend increases, signifying strong performance. The dividend declaration precedes the earnings announcement set for February 1, 2023.

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• Quarterly dividend increased to $1.40 per share.
• Annualized dividend payout rises to $5.60 per share.
• 13 consecutive years of dividend increases.

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• None.

GERMANTOWN, Tenn., Dec. 13, 2022 /PRNewswire/ -- MAA (NYSE: MAA) today announced that its board of directors approved a quarterly dividend payment of $1.40 per share of common stock to be paid on January 31, 2023, to shareholders of record on January 13, 2023, representing a 12% increase over the prior rate.

The increase will raise the annualized dividend payout to $5.60 per share of common stock. MAA has delivered 13 years of consecutive dividend increases.  

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, 2023.

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 primarily throughout the Southeast, Southwest and Mid-Atlantic regions of the U.S. focused on delivering strong, full-cycle 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 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended with respect to our expectations for future periods. 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

FAQ

What is the dividend amount for MAA in January 2023?

MAA's dividend amount for January 2023 is $1.40 per share.

When is the dividend payment date for MAA?

The dividend payment date for MAA is January 31, 2023.

How much has MAA increased its dividend?

MAA has increased its dividend by 12%.

What is the annualized dividend payout for MAA?

The annualized dividend payout for MAA is $5.60 per share.

Does MAA have a history of dividend payments?

Yes, MAA has delivered 13 years of consecutive dividend increases.