American Campus Communities Announces Increased Quarterly Dividend
May 04 2016 - 3:32PM
Business Wire
American Campus Communities, Inc. (NYSE: ACC), the nation’s
largest owner and manager of high-quality student housing
properties, announced that on May 4, 2016 its Board of Directors
declared a regular quarterly dividend of $0.42 per share of common
stock, payable on May 27, 2016, to shareholders of record at the
close of business on May 16, 2016. The declared dividend is a 5.0
percent increase over the prior quarterly dividend of $0.40 per
share of common stock.
“We are pleased to provide a fourth consecutive annual dividend
increase for shareholders,” said Bill Bayless, American Campus CEO.
“While our recent equity offering and the strategic dispositions
included in our guidance have temporarily resulted in an FFOM
payout ratio above our targeted mid 60 percent range, the long-term
stability of our operating performance when coupled with our future
growth prospects have given the Board of Directors the confidence
to again increase our annual dividend, which has been maintained or
increased throughout the 46 quarters since going public.”
The $0.42 quarterly dividend payment is equivalent to $1.68 per
share on an annualized basis, and represents a yield of
approximately 3.7 percent on the May 3, 2016 closing price of
$45.63 per share.
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager
and developer of high-quality 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. As of March 31, 2016, American Campus Communities owned
163 student housing properties containing approximately 100,600
beds. Including its owned and third-party managed properties, ACC's
total managed portfolio consisted of 203 properties with
approximately 131,100 beds. Visit www.americancampus.com.
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements under the federal securities
law. These statements are based on current expectations, estimates
and projections about the industry and markets in which American
Campus operates, management's beliefs, and assumptions made by
management. Forward-looking statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict.
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version on businesswire.com: http://www.businesswire.com/news/home/20160504006787/en/
American Campus Communities, Inc.Ryan Dennison,
512-732-1000Investor Relations
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