American Campus Communities (ACC) will raise its quarterly dividend to $0.44 per share.

The new dividend is payable on May 26, 2017, to shareholders of record at the close of business on May 15, 2017.

"We are pleased to provide a fifth consecutive annual dividend increase for shareholders," said Bill Bayless, American Campus Communities CEO. "The long-term stability of our operating performance has allowed the Board of Directors to maintain or increase the company's dividend throughout the 50 quarters since going public, and represents over 30 percent growth in the dividend since 2012."

The $0.44 quarterly dividend payment is equivalent to $1.76 per share on an annualized basis, and represents a yield of approximately 3.8 percent on the May 3, 2017 closing price of $46.50 per share.

American Campus Communities, Inc. is an owner, manager and developer of student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties.