MAA Announces Taxable Composition of 2020 Distributions

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Mid-America Apartment Communities (MAA) has announced the taxable composition of its 2020 distributions to shareholders. Notably, it expects no part of these distributions to be a return of capital, and no foreign taxes were incurred. The 2020 distributions include four payments of $1.0000 per share for common stock, with a taxable distribution rate of 99.9835%. Additionally, the 8.5% Series I Cumulative Redeemable Preferred Stock distributions totaled $1.0625 per share, also with a 99.9835% taxable rate. MAA advises shareholders to consult tax advisors for individual tax treatment.

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GERMANTOWN, Tenn., Jan. 19, 2021 /PRNewswire/ -- Mid-America Apartment Communities, Inc. or MAA (NYSE: MAA) today announced the taxable composition of the 2020 distributions paid to shareholders.  The company does not expect any portion of the 2020 distributions paid to shareholders to represent a return of capital. The company did not incur any foreign taxes. The composition presented is applicable to all dividend distributions during 2020. The classifications for 2020 are as follows:

Common Stock (MAA) (CUSIP 59522J103)

Record Date	Pay Date	Cash Distributions Per Share	Ordinary Taxable Distribution	Long Term Capital Gain	Unrecaptured Sec. 1250 Gain	Section 199A
01/15/2020	01/31/2020	$1.0000	99.9835%	00.0165%	0%	99.9835%
04/15/2020	04/30/2020	$1.0000	99.9835%	00.0165%	0%	99.9835%
07/15/2020	07/31/2020	$1.0000	99.9835%	00.0165%	0%	99.9835%
10/15/2020	10/30/2020	$1.0000	99.9835%	00.0165%	0%	99.9835%

8.5% Series I Cumulative Redeemable Preferred Stock (MAA/PI) (CUSIP 59522J889)

Record Date	Pay Date	Cash Distributions Per Share	Ordinary Taxable Distribution	Long Term Capital Gain	Unrecaptured Sec. 1250 Gain	Section 199A
03/16/2020	03/31/2020	$1.0625	99.9835%	00.0165%	0%	99.9835%
06/15/2020	06/30/2020	$1.0625	99.9835%	00.0165%	0%	99.9835%
09/15/2020	09/30/2020	$1.0625	99.9835%	00.0165%	0%	99.9835%
12/15/2020	12/31/2020	$1.0625	99.9835%	00.0165%	0%	99.9835%

This release is based on the preliminary work the company has performed on its tax filings and is subject to correction or adjustment based on the completion of those filings.  Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of these MAA distributions.  The company is releasing information at this time to aid those required to distribute Forms 1099 on the company's dividends.  No material change in the taxable composition is expected.

About MAA
MAA, an S&P 500 company, is a self-administered real estate investment trust (REIT) focused on delivering strong, full-cycle investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of apartment communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.  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 those made about the expectation that the company will have no material change in taxable composition of its 2020 distributions. The expectation is based on preliminary work the company has performed on its year-end filings and on information currently available.  Unknown risks, uncertainties and other factors may cause actual results, performance or achievements of the company to differ materially from those on which these calculations were based.  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 taxable composition of MAA's 2020 distributions?

MAA reported that its 2020 distributions include four payments of $1.0000 per share for common stock and $1.0625 per share for preferred stock, with no return of capital expected.

What are the tax implications of MAA's distributions?

MAA expects a 99.9835% ordinary taxable distribution rate for both common and preferred stock, with no foreign taxes incurred.

When were MAA's distributions paid in 2020?

The distributions for MAA were paid on January 31, April 30, July 31, and October 30 for common stock, and March 31, June 30, September 30, and December 31 for preferred stock.