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Press Release
First Industrial Realty Trust Reports Tax Treatment of Preferred Stock Distributions
(Logo: http://photos.prnewswire.com/prnh/20040106/FRLOGO)
The Company announced the tax treatment of its 2011 distributions on its Series J Cumulative Redeemable Preferred Stock and its Series K Cumulative Redeemable Preferred Stock. For tax purposes, 76.52 percent of the Company's 2011 preferred stock distributions represented return of capital (nondividend distributions) and 23.48 percent were classified as ordinary dividends.
The preferred stock distributions with record dates of
In 2011, the Company did not declare any common stock distributions.
This release is based on the preliminary results of work on the Company's tax filings and may be subject to correction or adjustment when the filings are completed. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment.
The tables below summarize the income tax treatment of the Company's distributions.
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Preferred |
Series J Cumulative Redeemable Preferred Stock |
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Declaration Date |
Record Date |
Payable Date |
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Total Distributions Per Share |
Total Distribution Allocable to 2011 |
2011 Total Ordinary Dividends |
2011 Qualified Dividends (1) |
2011 Total Capital Gain Distributions |
2011 Unrecaptured Section 1250 Gain (2) |
2011 Return of Capital (Nondividend Distributions) |
3/4/2011 |
3/15/2011 |
3/31/2011 |
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$0.453130 |
$0.453130 |
$0.319241 |
$0.006215 |
$0.000000 |
$0.000000 |
$0.133889 |
6/3/2011 |
6/15/2011 |
6/30/2011 |
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$0.453130 |
$0.453130 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.453130 |
9/2/2011 |
9/15/2011 |
9/30/2011 |
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$0.453130 |
$0.453130 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.453130 |
12/2/2011 |
12/15/2011 |
1/2/2012 |
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$0.453130 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
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Total |
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$1.812520 |
$1.359390 |
$0.319241 |
$0.006215 |
$0.000000 |
$0.000000 |
$1.040149 |
Form 1099-DIV Box |
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1a |
1b |
2a |
2b |
3 |
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Preferred |
Series K Cumulative Redeemable Preferred Stock |
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Declaration Date |
Record Date |
Payable Date |
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Total Distributions Per Share |
Total Distribution Allocable to 2011 |
2011 Total Ordinary Dividends |
2011 Qualified Dividends (1) |
2011 Total Capital Gain Distributions |
2011 Unrecaptured Section 1250 Gain (2) |
2011 Return of Capital (Nondividend Distributions) |
3/4/2011 |
3/15/2011 |
3/31/2011 |
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$0.453130 |
$0.453130 |
$0.319241 |
$0.006215 |
$0.000000 |
$0.000000 |
$0.133889 |
6/3/2011 |
6/15/2011 |
6/30/2011 |
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$0.453130 |
$0.453130 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.453130 |
9/2/2011 |
9/15/2011 |
9/30/2011 |
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$0.453130 |
$0.453130 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.453130 |
12/2/2011 |
12/15/2011 |
1/2/2012 |
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$0.453130 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
$0.000000 |
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Total |
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$1.812520 |
$1.359390 |
$0.319241 |
$0.006215 |
$0.000000 |
$0.000000 |
$1.040149 |
Form 1099-DIV Box |
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1a |
1b |
2a |
2b |
3 |
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(1) Qualified Dividends (Box 1b) are a subset of, and are included in, the Total Ordinary Dividends reported in Box 1a. |
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(2) Unrecaptured Section 1250 Gain (Box 2b) is a subset of, and is included in, the Total Capital Gain Distributions |
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reported in Box 2a. |
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About
Forward-Looking Information
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," "seek," "target," "potential," "focus," "may," "should" or similar expressions. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a materially adverse effect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically; changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities (including the
SOURCE
Art Harmon, Senior Director, Investor Relations and Corporate Communications, +1-312-344-4320