MAA Announces Taxable Composition of 2022 Distributions

Rhea-AI Summary

Mid-America Apartment Communities (MAA) announced the taxable composition of its 2022 distributions paid to shareholders, confirming that no portion will be a return of capital. The distributions include cash payments such as $1.0875 per share in January and April, and $1.2500 in July and October, with significant ordinary taxable distributions (95.0329% of each). For preferred shares (MAA/PI), the cash distribution is $1.06250 per share. The company expects no material change in the taxable composition and encourages shareholders to consult their tax advisors. This information aids those preparing Forms 1099 for dividends.

Positive

• No return of capital expected in the 2022 distributions.
• Consistent cash distributions across all quarters in 2022.
• High ordinary taxable distribution percentage (95.0329%) indicating strong income generation.

Negative

• None.

GERMANTOWN, Tenn., Jan. 17, 2023 /PRNewswire/ -- Mid-America Apartment Communities, Inc. or MAA (NYSE: MAA) today announced the taxable composition of the 2022 distributions paid to shareholders.  The company does not expect any portion of the 2022 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 2022. The classifications for 2022 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	Section 897 Capital Gain
1/14/2022	1/31/2022	$1.0875	95.0329 %	4.7791 %	0.1880 %	95.0329 %	4.9671 %
4/14/2022	4/29/2022	$1.0875	95.0329 %	4.7791 %	0.1880 %	95.0329 %	4.9671 %
7/15/2022	7/29/2022	$1.2500	95.0329 %	4.7791 %	0.1880 %	95.0329 %	4.9671 %
10/14/2022	10/31/2022	$1.2500	95.0329 %	4.7791 %	0.1880 %	95.0329 %	4.9671 %

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	Section 897 Capital Gain
3/15/2022	3/31/2022	$1.06250	95.0329 %	4.7791 %	0.1880 %	95.0329 %	4.9671 %
6/15/2022	6/30/2022	$1.06250	95.0329 %	4.7791 %	0.1880 %	95.0329 %	4.9671 %
9/15/2022	9/30/2022	$1.06250	95.0329 %	4.7791 %	0.1880 %	95.0329 %	4.9671 %
12/15/2022	01/03/2023	$1.06250	95.0329 %	4.7791 %	0.1880 %	95.0329 %	4.9671 %

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 primarily 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 2022 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 was the taxable composition of MAA distributions in 2022?

MAA announced that the taxable composition of its 2022 distributions will not include any return of capital.

What are the cash distributions per share for MAA in 2022?

MAA paid $1.0875 per share in January and April, and $1.2500 per share in July and October.

What is the ordinary taxable distribution percentage for MAA in 2022?

The ordinary taxable distribution percentage for MAA in 2022 is 95.0329%.

Is there any foreign tax incurred on MAA's distributions for 2022?

No foreign taxes were incurred by MAA on the 2022 distributions.

When should MAA shareholders consult their tax advisors?

Shareholders are encouraged to consult their tax advisors regarding the specific tax treatment of MAA distributions.