Mid-America Apartment Communities, Inc.(NYSE: MAA) today announced that its board of directors voted to increase the quarterly common dividend by 2% to a quarterly payment of $0.6275 per share, or $2.51 per share on an annual basis.
Al Campbell, CFO, stated, "We are encouraged with the improvement in leasing trends and expect the operating environment will continue to show steady improvement. MAA is one of the few multifamily REITs that did not reduce or suspend their cash dividend over the last couple of years of weak economic and capital market conditions. MAA is well positioned for the emerging recovery cycle and we look forward to continued progress for our shareholders."
December 01, 2010