Mid-America Apartment Communities (MAA) announces 15% dividend increase.

Mid-America Apartment Communities (MAA) announced that has increased the quarterly dividend to $1.25/share, representing a 15% increase over the prior distribution rate.  The second quarter dividend will be paid on July 29, 2022 to shareholders of record on July 15, 2022. As shown in the chart below, the latest dividend increase is prompted by MAA's improved profitability through 1Q'22 and guidance for sustained growth for the rest of the year.

Mid-America Apartment Communities owns and manages a diversified portfolio of approximately 100,000 apartment units in 16 states and the District of Columbia. The company is a member of the S&P 500 with a total market capitalization of approximately $29 billion.