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Mid-America Apartment Communities, 8 1/2% Series I Cumul Redeem Preferred Shares
Ticker Symbol: MAA-I CUSIP: 737464206 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Mid-America Apartment Communities Inc., formerly Post Properties, Inc., 8 1/2% Series A Cumulative Redeemable Preferred Shares, liquidation preference $50 per share, redeemable at the issuer's option on or after 10/01/2026 at $50 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 8 1/2% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15th day of the month in which the payment is made (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (MAA)
Notes: From Item 2.01 of the 8-K filed with the SEC on 12/1/2016 -- In addition, in the Parent Merger, each outstanding share of Post Properties’ 8 1/2% Series A Cumulative Redeemable Preferred Shares was converted into the right to receive one newly-issued share of MAA’s 8.50% Series I Cumulative Redeemable Preferred Stock which has the same rights, preferences, privileges and voting powers as those of the Post Properties Series A preferred stock. MAA issued approximately 38 million shares of MAA common stock and approximately 868,000 shares of MAA Series I preferred stock to former Post common and preferred shareholders as consideration in the Parent Merger
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Link to IPO Prospectus
Previous Ticker Symbol: PPS-A Changed: 12/01/2016
Previous Name: Post Properties Inc., 8 1/2% Series A Cumul Redeem Preferred Shares Changed: 12/01/2016
Market Value $ Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 6815 Poplar Avenue, Suite 500, Germantown,, TN 38138 |
| Main Phone Number |
901-682-6600 |
| Fax Number |
Not Available |
| Investor Relations
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866-576-9689
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| CEO - H. Eric Bolton, Jr. |
CFO - Albert M. Campbell, III |
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