ATLANTA, April 17, 2017 /PRNewswire/ --
Second Quarter 2017 Common Stock Dividend
Preferred Apartment Communities, Inc. (NYSE: APTS), or PAC,
today announced that its Board of Directors has declared a
quarterly dividend on its common stock of $0.235 per share for the second quarter of
2017. This is an increase of $0.015 per share or approximately 6.8% over the
prior quarterly dividend rate of $0.22 per share paid to common stockholders for
the first quarter of 2017. This also represents an annualized
dividend growth rate of 14.8% since our first dividend following
PAC's IPO in April 2011. The
dividend is payable on July 14, 2017
to all common stockholders of record as of June 15, 2017.
Earnings Release and Conference Call
The Company today also announced plans to release its first
quarter 2017 earnings after the market closes on Monday, May 1, 2017.
Following are the details of a conference call Preferred
Apartment Communities will host on Tuesday,
May 2, 2017 at 11:00 a.m. Eastern
Time to discuss its first quarter 2017 results. To
participate in the conference call, please dial in to the
following:
Live Conference Call Details
Domestic Dial-in Number: (844) 890-1791
International Dial-in Number: (412) 380-7408
Company: Preferred Apartment Communities, Inc.
Date: Tuesday, May 2, 2017
Time: 11:00 a.m. Eastern Time
(8:00 a.m. Pacific Time)
The live broadcast of Preferred Apartment Communities' first
quarter conference call will be available online, on a listen-only
basis, at the company's website, www.pacapts.com, under "Investors"
and then click on the "Webcasts & Audio" link. A replay
of the call will be archived on Preferred Apartment Communities'
website under Investors/Audio Archive.
About Preferred Apartment Communities, Inc.
Preferred Apartment Communities, Inc. is a Maryland corporation formed primarily to
acquire and operate multifamily properties in select targeted
markets throughout the United States. As part of our business
strategy, we may enter into forward purchase contracts or purchase
options for to-be-built multifamily communities and we may make
real estate related loans, provide deposit arrangements, or provide
performance assurances, as may be necessary or appropriate, in
connection with the development of multifamily communities and
other properties. As a secondary strategy, we may acquire or
originate senior mortgage loans, subordinate loans or real estate
loans secured by interests in multifamily properties, membership or
partnership interests in multifamily properties and other
multifamily related assets and invest a lesser portion of our
assets in other real estate related investments, including other
income-producing property types, senior mortgage loans, subordinate
loans or real estate loans secured by interests in other
income-producing property types, membership or partnership
interests in other income-producing property types as determined by
our manager as appropriate for us. At December 31, 2016, the Company was the
approximate 96.8% owner of Preferred Apartment Communities
Operating Partnership, L.P., or the Operating Partnership.
Preferred Apartment Communities, Inc. has elected to be taxed as a
real estate investment trust under the Internal Revenue Code of
1986, as amended, commencing with its tax year ended December 31, 2011.
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SOURCE Preferred Apartment Communities, Inc.