Preferred Apartment Communities Increases Quarterly Dividend

Preferred Apartment Communities, Inc.

, revealed that its Board has declared a quarterly dividend of $0.2025 per share for the second quarter of 2016. That represented an increase of $0.01 per share or about 5.2% from the prior quarterly dividend rate of $0.1925 per share paid for the first quarter of the last year. Preferred Apartment said that this also represented a 62.0% overall increase in its common stock dividend since its IPO and an annualized dividend growth rate of 12.5%. The company stated that the dividend would be payable on July 15 to all common stockholders. It fixed the record date of June 15. The company's Chairman and CEO, John Williams, said that "We think one of the reasons that investors and stockholders like to invest in our common stock is our ability, commitment and proven track record to raising our dividend as we grow in our financial performance." The stock traded down by 1.06% on Thursday.