Mid-America Announces 3.1% Hike in Dividend: Is It Sustainable?

Mid-America Apartment Communities’ (MAA) , also known as MAA, board of directors approved an increase in the company’s quarterly dividend payment. The company will now pay out $1.515 per share, reflecting a hike of 3.1% from the prior dividend of $1.47. Based on the increased rate, the annual dividend comes to $6.06 per share, marking an increase of 18 cents from the prior dividend. At this new rate, the annualized yield comes at 3.8%, based on the stock’s closing price of $158.56 on Dec. 10. The new divide ...