PHILADELPHIA, May 18, 2022--Independence Realty Trust, Inc. (NYSE: IRT) ("IRT") today announced that its Board of Directors authorized a repurchase program of up to $250 million of the Company’s common stock. The Board also approved a quarterly dividend of $0.14 per share of IRT common stock, which represents a 17% increase in the dividend over the prior quarterly rate of $0.12 per share. The dividend is payable on July 22, 2022 to shareholders of record at the close of business on July 1, 2022.
Mid-America Apartment Communities' (MAA) recent dividend hike of 15% is likely to be sustainable, given the company's operational and financial strength.
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