Both dividends will be paid May 15. The REIT's properties average 10 years in age.

Mid-America owns 33,781 apartments in the Southeast, Midwest and Texas with 149 units under development.

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David Wilkening

David Wilkening began his long journalism career as a police reporter for Chicago-area newspapers. He became a writer-editor for major newspapers in Chicago, Washington, Detroit and Florida. He has been a business editor, political editor and travel editor for newspapers and magazines. He tried for a while to be a political operative but did better as an adjunct college professor teaching English and journalism. He is the author of several books, both ghost-written and under his own name. He is also a widely published freelance writer who currently lives in Orlando.