MAA Announces Regular Quarterly Preferred Dividend

Rhea-AI Summary

Mid-America Apartment Communities (MAA) announced a quarterly dividend of $1.0625 per share on its 8.50% Series I Cumulative Redeemable Preferred Stock. This dividend is set to be distributed on March 31, 2023, to shareholders recorded by March 15, 2023. As a self-administered real estate investment trust (REIT) and member of the S&P 500, MAA focuses on delivering robust investment performance across U.S. apartment communities, mainly in the Southeast, Southwest, and Mid-Atlantic regions. Investors are encouraged to review MAA's official filings for potential risks linked to dividend payments, impacted by economic conditions and real estate taxes.

Positive

• Quarterly dividend of $1.0625 per share enhances shareholder income.
• MAA is a member of the S&P 500, indicating strong market presence and credibility.

Negative

• Potential challenges in meeting dividend payments due to economic downturns.
• Risk of changes in interest rates and increased real estate taxes could affect financial stability.

GERMANTOWN, Tenn., March 1, 2023 /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced a full quarterly dividend of $1.0625 per outstanding share of its 8.50% Series I Cumulative Redeemable Preferred Stock. The dividend is payable on March 31, 2023, to shareholders of record on March 15, 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 the "For Investors" page at www.maac.com or contact Investor Relations at investor.relations@maac.com.

Forward-Looking Statements

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 preferred dividends. The ability to meet the payment of preferred 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 announced by MAA for March 2023?

MAA announced a dividend of $1.0625 per share for its 8.50% Series I Cumulative Redeemable Preferred Stock.

When is the dividend payment date for MAA's March 2023 dividend?

The dividend is payable on March 31, 2023.

What is the record date for MAA's dividend in March 2023?

The record date for the dividend is March 15, 2023.

How does MAA's dividend compare within the real estate sector?

MAA's dividend of $1.0625 per share reflects its commitment to shareholder returns in the competitive real estate investment trust market.

Are there any risks associated with MAA's dividend payments?

Yes, risks include general economic downturns, changes in interest rates, and increased real estate taxes that could impact MAA's ability to maintain its dividend payouts.