Apartment-only real estate investment trust Mid-America Apartment Communities (NYSE:MAA) announced today its third-quarter dividend of $0.695 per share, the same rate it's paid for the past three quarters after raising the payout 5% from $0.66 per share.
The board of directors said the quarterly dividend is payable on October 31 to holders of record at the close of business on October 15. The regular dividend payment equates to a $2.78-per-share annual dividend, yielding 4.4% based on the closing price today of Mid-America Apartment Communities' stock.
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