MAA Announces Taxable Composition of 2024 Distributions

Rhea-AI Summary

MAA (NYSE: MAA) has disclosed the taxable composition of its 2024 shareholder distributions. The company's common stock distributions totaled $1.47 per share quarterly, with 98.6074% classified as ordinary taxable distribution and 1.3926% as long-term capital gain. For the 8.5% Series I Preferred Stock, quarterly distributions were $1.0625 per share with identical tax classifications.

The company confirms that no portion of 2024 distributions represents a return of capital, and no foreign taxes were incurred. All distributions qualify for Section 199A treatment at 98.6074% and Section 897 Capital Gain at 1.3926%. The tax composition applies uniformly across all dividend distributions made during 2024.

Positive

• Consistent quarterly dividend payments of $1.47 per share for common stock
• Stable preferred stock dividend payments of $1.0625 per share
• 98.6074% of distributions qualify for Section 199A tax treatment

Negative

• None.

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GERMANTOWN, Tenn., Jan. 21, 2025 /PRNewswire/ -- Mid-America Apartment Communities, Inc. or MAA (NYSE: MAA) today announced the taxable composition of the 2024 distributions paid to shareholders.  The company does not expect any portion of the 2024 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 2024. The classifications for 2024 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
1/12/2024	1/31/2024	$1.4700	98.6074 %	1.3926 %	0.0000 %	98.6074 %	1.3926 %
4/15/2024	4/30/2024	$1.4700	98.6074 %	1.3926 %	0.0000 %	98.6074 %	1.3926 %
7/15/2024	7/31/2024	$1.4700	98.6074 %	1.3926 %	0.0000 %	98.6074 %	1.3926 %
10/15/2024	10/31/2024	$1.4700	98.6074 %	1.3926 %	0.0000 %	98.6074 %	1.3926 %

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
3/15/2024	04/01/2024	$1.0625	98.6074 %	1.3926 %	0.0000 %	98.6074 %	1.3926 %
6/14/2024	07/01/2024	$1.0625	98.6074 %	1.3926 %	0.0000 %	98.6074 %	1.3926 %
09/13/2024	09/30/2024	$1.0625	98.6074 %	1.3926 %	0.0000 %	98.6074 %	1.3926 %
12/13/2024	12/31/2024	$1.0625	98.6074 %	1.3926 %	0.0000 %	98.6074 %	1.3926 %

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 2024 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 MAA's common stock dividend amount per share for 2024?

MAA's common stock dividend is $1.47 per share paid quarterly throughout 2024.

How much of MAA's 2024 distributions qualify for Section 199A treatment?

98.6074% of MAA's 2024 distributions qualify for Section 199A tax treatment.

What is the dividend amount for MAA's 8.5% Series I Preferred Stock in 2024?

The Series I Preferred Stock dividend is $1.0625 per share paid quarterly in 2024.

What percentage of MAA's 2024 distributions are classified as long-term capital gains?

1.3926% of MAA's 2024 distributions are classified as long-term capital gains.

Does MAA's 2024 distribution include any return of capital?

No, MAA does not expect any portion of the 2024 distributions to represent a return of capital.