UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
January 22, 2004
Date of Report (Date of earliest event reported)
MID-AMERICA APARTMENT COMMUNITIES, INC.
(Exact Name of Registrant as Specified in Charter)
TENNESSEE 1-12762 62-1543819
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification Number)
6584 POPLAR AVENUE, SUITE 300
MEMPHIS, TENNEESSEE 38138
(Address of principal executive offices)
(901) 682-6600
(Registrant's telephone number, including area code)
(Former name or address, if changed since last report)
ITEM 9. Regulation FD Disclosure
MID-AMERICA APARTMENT COMMUNITIES, INC.
A self-managed Equity REIT
PRESS RELEASE
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FROM: Simon R. C. Wadsworth
SUBJECT: Mid-America Announces Taxable Composition of Its 2003 Distributions
DATE: JANUARY 22, 2004
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Mid-America Announces Taxable Composition of Its 2003 Distributions
Memphis, TN: January 22, 2004. Mid-America Apartment Communities, Inc. (MAA:
NYSE) today announced the taxable composition of its 2003 distributions paid to
shareholders. The amount of distribution referred to as return of capital is
considered by the Internal Revenue Service to be a return of invested capital
and should be applied to reduce the shareholders' tax cost basis of the related
shares. The composition presented is applicable to all dividend distributions
during 2003.
Common Shares (CUSIP No. 59522J103)
Cash Ordinary Long Term
Record Date Payment Dividend Taxable Capital Return of
Date per Share Dividend Gain Capital
------------------ ----------------- -------------- --------------------- ------------------ ---------------
1/24/2003 1/31/2003 $ 0.5850 48.32% 5.81% 45.87%
4/24/2003 4/30/2003 $ 0.5850 48.32% 5.81% 45.87%
7/24/2003 7/31/2003 $ 0.5850 48.32% 5.81% 45.87%
10/24/2003 10/31/2003 $ 0.5850 48.32% 5.81% 45.87%
Preferred Shares
Cash Ordinary Long Term
Dividend Taxable Capital Return of
Series per Share Dividend Gain Capital
------------------------------------------ ----------------- ---------------- ----------------- --------------
Series A (CUSIP# 59522J202) $ 1.6598 97.20% 2.80% 0.00%
Series B (CUSIP# 59522J301) $ 1.5865 97.20% 2.80% 0.00%
Series C (CUSIP# 59522J400) $ 2.0294 97.20% 2.80% 0.00%
Series F (CUSIP# 59522J608) $ 2.3124 97.20% 2.80% 0.00%
Series H (CUSIP# 59522J806) $ 0.63152 100.00% 0.00% 0.00%
The Long Term Capital Gain Distributions qualify for the 15% Reduced Tax Rate on
Capital Gains. Please note REIT Ordinary Taxable Dividends, by law, do not
qualify for the Reduced Tax Rate of 15%.
This release is based on the preliminary work the company has performed on its
filings and is subject to correction or adjustment based on the completion of
those filings. The company is releasing information at this time to aid those
required to distribute 1099s on the company's dividends. No material change in
the taxable composition is expected.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MID-AMERICA APARTMENT COMMUNITIES, INC.
Date: January 22, 2004 /s/Simon R.C. Wadsworth
Simon R.C. Wadsworth
Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)