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Mid-America Apartment Communities Inc. Message Board

  • trenttrautman trenttrautman Apr 18, 2002 4:09 PM Flag

    Why save $87k?

    A thought occured to me:

    At 17.5 million shares outstanding, the "normal" dividend increase would have been $.005.

    17.5m shares * $.005 div inc. = $87,500

    I remember reading a note about MAA aquiring some new properties...but why skimp on $87k? I don't think apartment communities are quite as cheap as $87k (Last time I checked)

    Cash on hand was around $12.2M.

    17.5M shares * $.585 div = $10,237,500
    17.5M shares * $.59 div = $10,325,000

    Not a gigantic difference, but this is the first time since around 94 that they haven't had at least one div increase a year.

    What gives? Did someone give themselves a salary increase?

94.34+0.57(+0.61%)3:21 PMEDT