AUSTIN, Texas--(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 2, 2018 its Board of Directors declared a regular quarterly dividend of $0.46 per share of common stock, payable on May 25, 2018, to shareholders of record at the close of business on May 14, 2018. The declared dividend is a 4.5 percent increase over the prior quarterly dividend of $0.44 per share of common stock.
“We are pleased to provide a sixth consecutive annual dividend increase for shareholders,” said Bill Bayless, American Campus Communities CEO. “The long-term stability of our operating performance has allowed the Board of Directors to maintain or increase the company’s dividend throughout the 54 quarters since going public, representing over 36 percent growth in the dividend since 2012.”
The $0.46 quarterly dividend payment is equivalent to $1.84 per share on an annualized basis, and represents a yield of approximately 4.7 percent on the May 1, 2018 closing price of $39.39 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, 2018, American Campus Communities owned 171 student housing properties containing approximately 104,800 beds. Including its owned and third-party managed properties, ACC's total managed portfolio consisted of 207 properties with approximately 134,400 beds. Visit www.americancampus.com.
In addition to historical information, this press release contains forward-looking statements under the applicable federal securities law. These statements are based on management’s current expectations and assumptions regarding markets in which American Campus Communities, Inc. (the “Company”) operates, operational strategies, anticipated events and trends, the economy, and other future conditions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. For discussions of some risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2017 under the heading “Risk Factors” and under the heading “Business - Forward-looking Statements” and subsequent quarterly reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statements, including our expected 2018 operating results, whether as a result of new information, future events, or otherwise.