MAA Announces Quarterly Common Dividend

Rhea-AI Summary

Mid-America Apartment Communities (MAA) announced its 122nd consecutive quarterly dividend of $1.47 per share of common stock. This dividend will be paid on July 31, 2024, to shareholders of record on July 15, 2024. The company has maintained a consistent quarterly dividend for 30 years without reductions or suspensions. This announcement precedes the anticipated earnings report on July 31, 2024.

Positive

• MAA declared a quarterly dividend of $1.47 per share.
• This marks the company's 122nd consecutive quarterly dividend.
• MAA has a 30-year history of consistent dividend payments.
• The dividend will be paid on July 31, 2024.

Negative

• Announcement of the dividend precedes the earnings report, which may cause uncertainty.

GERMANTOWN, Tenn., May 21, 2024 /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced that its board of directors approved a quarterly dividend payment of $1.47 per share of common stock to be paid on July 31, 2024, to shareholders of record on July 15, 2024.

This announcement represents the 122^nd consecutive quarterly cash dividend declared by the company. Over its 30-year history, MAA has never reduced or suspended its quarterly common dividend payment.

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 July 31, 2024.

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 dividend did MAA declare on May 21, 2024?

MAA declared a quarterly dividend of $1.47 per share on May 21, 2024.

When will MAA pay the quarterly dividend announced on May 21, 2024?

MAA will pay the quarterly dividend on July 31, 2024.

How many consecutive quarterly dividends has MAA declared?

MAA has declared 122 consecutive quarterly dividends.

What is the record date for the MAA dividend announced on May 21, 2024?

The record date for the dividend is July 15, 2024.

How long has MAA maintained its quarterly dividend without reductions or suspensions?

MAA has maintained its quarterly dividend without reductions or suspensions for 30 years.