MEMPHIS, Tenn., Nov. 29 /PRNewswire-FirstCall/ — Mid-America Apartment Communities, Inc. (NYSE: MAA) today announced that its board of directors had approved a quarterly common dividend of $0.615 per share payable on January 31, 2008 to shareholders of record on January 15, 2008, with ex-dividend trading beginning on January 11, 2008. The dividend represents an increase of $0.01 per share over the prior quarterly rate, and is equivalent to an annualized rate of $2.46. It is the 11th increase authorized by the board of directors in the company's 14-year history.
MAA is a self-administered, self-managed apartment-only real estate investment trust, which owns 40,248 apartment units throughout the Sunbelt region of the United States of America. For further details, please refer to our website at www.maac.net or contact Investor Relations at (901) 435-5371 or investor.relations (at) maac (dot) net. 6584 Poplar Avenue, Suite 300, Memphis, TN 38138.
Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Such statements include, but are not limited to, statements made about anticipated financial results. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including a downturn in general economic conditions or the capital markets, competitive factors including overbuilding or other supply/demand imbalances in some or all of our markets, construction delays that could cause new and add-on apartment units to reach the market later than anticipated, changes in interest rates and other items that are difficult to control such as insurance rates, 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.
SOURCE Mid-America Apartment Communities, Inc.
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