Financial Stocks Starting to Trim Small Declines

Financial stocks were trending lower Friday following nearly a week of outsized advances, with the NYSE Financial Sector Index slipping over 0.3% while financial companies in the S&P 500 Index were dropping about 0.2%.

In company news, Mid-America Apartment Communities (MAA) rose Friday after the real estate investment trust late yesterday authorized a 6.1% increase in its quarterly dividend over its previous distribution to $0.87 per share.

The next dividend including the nickel increase – the company’s seventh consecutive annual boost – is payable Jan. 31 to shareholders of record on Jan. 13. MAA shares were up 1.5% at $93.54 each, earlier topping out today at $94.04 a share.