ATLANTA, Nov. 1, 2018 /PRNewswire/ --
Fourth Quarter 2018 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 $0.26 per share for the fourth quarter of 2018. This is an increase of $0.005 per share or approximately 2.0% over the prior quarterly dividend rate of $0.255 per share paid to common stockholders for the third quarter of 2018. This also represents an 8.5% increase in our aggregate common stock dividends paid in 2017 of $0.94 per share to our aggregate common stock dividends paid in 2018 of $1.02 per share, and an annualized dividend growth rate of 14.5% since our first dividend following PAC's IPO in April 2011. The dividend is payable on January 15, 2019 to all common stockholders of record as of December 14, 2018. Even though this dividend will be paid in 2019, if and to the extent this dividend is taxable, PAC intends for this dividend to be taxable in 2018.
Third Quarter Earnings Release and Corrected Conference Call
Following are the corrected details of the information for a conference call Preferred Apartment Communities will host on Tuesday, November 6, 2018 at 11:00 a.m. Eastern Time to discuss its third quarter 2018 results. To participate in the conference call, please dial in to the following:
Live Conference Call Details
Domestic Dial-in Number: (844) 890-1791 (CORRECTED)
International Dial-in Number: (412) 380-7408
Company: Preferred Apartment Communities, Inc.
Date: Tuesday, November 6, 2018
Time: 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time)
The live broadcast of Preferred Apartment Communities' third 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" heading. A replay of the call will be archived on Preferred Apartment Communities' website under Investors/Webcasts & Audio.
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 June 30, 2018, the Company was the approximate 97.4% owner of Preferred Apartment Communities Operating Partnership, L.P., the Company's 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. Learn more at www.pacapts.com.
SOURCE Preferred Apartment Communities, Inc.