EX-99.1 2 roc2007r.htm PRESS RELEASE - 2007 TAXABLE COMPOSITION OF DISTRIBUTIONS roc2007r.htm

MID-AMERICA APARTMENT COMMUNITIES, INC.
 
A self-managed Equity REIT
 
PRESS RELEASE
 


Mid-America Announces Taxable Composition of Its 2007 Distributions


Memphis, TN:  January 22, 2008.  Mid-America Apartment Communities, Inc. (NYSE: MAA) today announced the taxable composition of its 2007 distributions paid to shareholders. The amount of distribution referred to as return of capital is considered by the Internal Revenue Service to be a return of invested capital and should be applied to reduce the shareholders’ tax cost basis of the related shares. The Company did not incur any foreign taxes. The composition presented is applicable to all dividend distributions during 2007. The classifications for 2007 are as follows:

COMMON SHARES (CUSIP NO. 59522J103)
Record
Dates
Payable
Dates
Cash
Distributions
Per Share
Ordinary Taxable
Dividend
Long-Term
Capital Gains
Return of
Capital
Unrecaptured Sec. 1250
Gain
1/15/2007
4/13/2007
7/16/2007
10/15/2007
1/31/2007
4/30/2007
7/31/2007
10/31/2007
$0.605
$0.605
$0.605
$0.605
59.50%
59.50%
59.50%
59.50%
8.22%
8.22%
8.22%
8.22%
21.05%
21.05%
21.05%
21.05%
11.23%
11.23%
11.23%
11.23%


PREFERRED SHARES
Series
Cash
Dividend
per Share
Ordinary
Taxable
Dividend
Long Term
Capital
Gain
Return of
Capital
Unrecaptured Sec. 1250
Gain
Series F (CUSIP#59522J608)
$2.0265
75.36%
10.41%
0.00%
14.23%
Series H (CUSIP# 59522J806)
$2.0752
75.36%
10.41%
0.00%
14.23%

The Long Term Capital Gain Distributions qualify for the 15% Reduced Tax Rate on Capital Gains.  Please note REIT Ordinary Taxable Dividends, by law, do not qualify for the Reduced Tax Rate of 15%.

This release is based on the preliminary work the company has performed on its filings and is subject to correction or adjustment based on the completion of those filings.  The company is releasing information at this time to aid those required to distribute 1099s on the company’s dividends.  No material change in the taxable composition is expected.

MAA is a self-administered, self-managed apartment-only real estate investment trust, which owns or has ownership interest in 40,804 apartment units throughout the Sunbelt Region of the U.S.  For further details, please refer to our website at www.maac.net or contact Investor Relations at investor.relations@maac.net or (901) 435-5371.  6584 Poplar Ave., Suite 300, Memphis, TN  38138.