MAA Announces Regular Quarterly Preferred Dividend

Rhea-AI Summary

Mid-America Apartment Communities (MAA) has declared a quarterly dividend of $1.0625 per share for its 8.50% Series I Cumulative Redeemable Preferred Stock. The dividend will be paid on September 30, 2024, to shareholders of record as of September 13, 2024. This announcement demonstrates MAA's commitment to providing regular returns to its preferred stockholders, maintaining its dividend policy despite potential economic uncertainties. The consistency in dividend payments may be viewed positively by investors seeking stable income from real estate investment trusts (REITs).

Positive

• Consistent dividend payment, indicating financial stability
• Maintaining 8.50% dividend yield on preferred stock

Negative

• None.

GERMANTOWN, Tenn., Sept. 3, 2024 /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 September 30, 2024, to shareholders of record on September 13, 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 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 for MAA's Series I Preferred Stock?

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

When will MAA pay the preferred stock dividend?

The dividend will be paid on September 30, 2024.

What is the record date for MAA's preferred stock dividend?

The record date for the dividend is September 13, 2024.

How often does MAA pay dividends on its preferred stock?

Based on the announcement of a quarterly dividend, MAA pays dividends on its preferred stock four times a year.