Breaking News

Tweet TWEET

American Campus Communities Announces Increased Quarterly Dividend

  American Campus Communities Announces Increased Quarterly Dividend

Business Wire

AUSTIN, Texas -- May 02, 2013

American Campus Communities, Inc. (NYSE: ACC), the nation’s largest owner and
manager of high-quality student housing properties, announced that on May 1,
2013 its board of directors declared a regular quarterly dividend of $0.36 per
share of common stock, payable on May 30, 2013, to shareholders of record at
the close of business on May 16, 2013. The declared dividend is a 6.7 percent
increase over the prior quarterly dividend of $0.3375 per share of common
stock.

“The long term stability of our operating performance has allowed the board of
directors to maintain the company’s dividend throughout the 34 quarters since
going public, even during the great recession,” said Bill Bayless, American
Campus CEO. “We are excited to have reached the point in the life of our
company where we are able to provide a dividend increase for shareholders. Our
goal in increasing the dividend was to maintain the estimated 2013 FFOM payout
ratio above 60 percent while retaining a significant amount of our cash flow
to invest in the attractive set of acquisition and development opportunities
before us.”

The $0.36 quarterly dividend payment is equivalent to $1.44 per share on an
annualized basis, and represents a yield of approximately 3.3 percent on
Wednesday’s closing price of $44.15 per share.

About American Campus Communities

American Campus Communities, Inc. is the largest owner and manager 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. American Campus Communities owns 160 student housing properties
containing approximately 98,800 beds. Including its owned and third-party
managed properties, ACC’s total managed portfolio consists of 191 properties
with approximately 122,800 beds. Visit www.americancampus.com or
www.studenthousing.com

Contact:

American Campus Communities, Inc.
Ryan Dennison, 512-732-1000
Investor Relations
 
Press spacebar to pause and continue. Press esc to stop.