Mid-America Appartment Communities (MAA) will raise its quarterly dividend by 4.2 percent to $1.00 per share in 2020. This follows a 4.1 percent dividend hike by the REIT last year.

The next dividend will be paid on January 31, 2020 to shareholders of record on January 15, 2020. The new annualized dividend payout to $4.00 per share yields 3.0% at a stock price of $133.

Mid-America Appartment Communities (MAA) is a multifamily focused self-administered real estate investment trust (REIT). The company owns or has ownership interest in apartment communities throughout the Southeast and Southwest regions of the United States. One of the company's growth strategies is to acquire apartment communities that are located in various markets throughout the Southeast, Southwest and Mid-Atlantic regions of the United States. MAA made its first dividend payment to common shareholders in 1994, shortly following its initial public offering.