UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 7.01Regulation FD Disclosure
On January 19, 2021, the registrant issued a press release announcing the taxable composition of its 2020 distributions paid to shareholders. A copy of the press release is furnished as Exhibit 99.1 to this Current Report.
Exhibit 99.1, furnished by the Registrant pursuant to Item 9.01 of Form 8-K, is not to be considered "filed" under the Exchange Act, and shall not be incorporated by reference into any previous or future filing by the Registrant under the Securities Act or the Exchange Act.
ITEM 9.01Financial Statements and Exhibits.
(d)Exhibits. The following exhibits are being furnished as part of this Report.
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Description |
99.1 |
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Press Release dated January 19, 2021: “MAA Announces Taxable Composition of 2020 Distribution” |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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MID-AMERICA APARTMENT COMMUNITIES, INC. |
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Date: |
January 19, 2021 |
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/s/Albert M. Campbell, III |
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Albert M. Campbell, III |
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Executive Vice President and Chief Financial Officer |
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(Principal Financial Officer) |
Exhibit 99.1
PRESS RELEASE
MAA Announces Taxable Composition of 2020 Distributions
Germantown, TN, January 19, 2021. Mid-America Apartment Communities, Inc. or MAA (NYSE: MAA) today announced the taxable composition of the 2020 distributions paid to shareholders. The company does not expect any portion of the 2020 distributions paid to shareholders to represent a return of capital. The company did not incur any foreign taxes. The composition presented is applicable to all dividend distributions during 2020. The classifications for 2020 are as follows:
Common Stock (MAA) (CUSIP 59522J103)
Record Date |
Pay Date |
Cash Distributions Per Share |
Ordinary Taxable Distribution |
Long Term Capital Gain |
Unrecaptured Sec. 1250 Gain |
Section 199A |
01/15/2020 |
01/31/2020 |
$1.0000 |
99.9835% |
00.0165% |
0% |
99.9835% |
04/15/2020 |
04/30/2020 |
$1.0000 |
99.9835% |
00.0165% |
0% |
99.9835% |
07/15/2020 |
07/31/2020 |
$1.0000 |
99.9835% |
00.0165% |
0% |
99.9835% |
10/15/2020 |
10/30/2020 |
$1.0000 |
99.9835% |
00.0165% |
0% |
99.9835% |
8.5% Series I Cumulative Redeemable Preferred Stock (MAA/PI) (CUSIP 59522J889)
Record Date |
Pay Date |
Cash Distributions Per Share |
Ordinary Taxable Distribution |
Long Term Capital Gain |
Unrecaptured Sec. 1250 Gain |
Section 199A |
03/16/2020 |
03/31/2020 |
$1.0625 |
99.9835% |
00.0165% |
0% |
99.9835% |
06/15/2020 |
06/30/2020 |
$1.0625 |
99.9835% |
00.0165% |
0% |
99.9835% |
09/15/2020 |
09/30/2020 |
$1.0625 |
99.9835% |
00.0165% |
0% |
99.9835% |
12/15/2020 |
12/31/2020 |
$1.0625 |
99.9835% |
00.0165% |
0% |
99.9835% |
This release is based on the preliminary work the company has performed on its tax filings and is subject to correction or adjustment based on the completion of those filings. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of these MAA distributions. The company is releasing information at this time to aid those required to distribute Forms 1099 on the company’s dividends. No material change in the taxable composition is expected.
About MAA
MAA, an S&P 500 company, is a self-administered real estate investment trust (REIT) focused on delivering strong, full-cycle investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of apartment communities in the Southeast, Southwest and Mid-Atlantic regions of the United States. For further details, please refer to www.maac.com or contact Investor Relations at investor.relations@maac.com.
Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, with respect to our expectations for future periods. Such statements include those made about the expectation that the company will have no material change in taxable composition of its 2020 distributions. The expectation is based on preliminary work the company has performed on its year-end filings and on information currently available. Unknown risks, uncertainties and other factors may cause actual results, performance or achievements of the company to differ materially from those on which these calculations were based. 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.
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