Preferred Apartment Communities, Inc. Announces Second Quarter 2012 Common Stock and Monthly Preferred Stock Dividends
ATLANTA, May 15, 2012 /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE MKT: APTS) today announced that on May 10, 2012, its Board of Directors declared a quarterly dividend of $0.13 per share of common stock payable July 16, 2012, to common stockholders of record on June 29, 2012, and the following monthly dividends on the company's Series A Redeemable Preferred Stock, payable June 20, 2012 to applicable preferred stockholders of record on May 31, 2012:
Dividend Per Share
(1) This dividend represents $5.00 per share for the full monthly period in May 2012.
(2) This dividend represents $5.00 per share for the full monthly period in May 2012 and $0.17 per share for the day of initial issuance of the shares on April 30, 2012.
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 property acquisition strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make mezzanine loans, provide deposit arrangements, or provide performance assurances, as may be necessary or appropriate, in connection with the construction of these properties. As a secondary strategy, we also may acquire senior mortgage loans, subordinate loans or mezzanine debt secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets and invest not more than 10% of our total assets in other real estate related investments, as determined by our manager as appropriate for us. Preferred Apartment Communities, Inc. intends to elect and qualify as a real estate investment trust for U.S. federal income tax purposes, commencing with our tax year ended December 31, 2011.
SOURCE Preferred Apartment Communities, Inc.
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