American Tower Corporation Announces Tax Reporting Information for 2024 Distributions

Rhea-AI Summary

American Tower (NYSE: AMT) has released its tax reporting information for 2024 distributions. The company made four quarterly distributions throughout 2024:

- February 1, 2024: $1.70 per share
- April 26, 2024: $1.62 per share
- July 12, 2024: $1.62 per share
- October 25, 2024: $1.62 per share

Each distribution is classified as ordinary taxable dividends, with small portions qualifying as qualified taxable dividends and Section 897 ordinary distributions. The company noted that there were no capital gain, unrecaptured section 1250 gain, or non-dividend distributions for the 2024 tax year. The quarterly distribution declared in December 2024, payable on February 3, 2025, will be applicable to the 2025 tax year.

Positive

• Consistent quarterly dividend payments throughout 2024
• Total annual dividend distribution of $6.56 per share

Negative

• None.

Insights

Financial Tax Expert

American Tower 's 2024 tax reporting information reveals several key insights for investors' tax planning. The REIT distributed a total of $6.56 per share throughout 2024, with quarterly payments structured as follows:

• Q1: $1.70 per share
• Q2-Q4: $1.62 per share each

The tax breakdown shows that only about 1.2% of the distributions qualify as qualified dividends, which typically receive preferential tax treatment. The majority falls under Section 199A dividends, allowing most investors to benefit from a 20% deduction on their qualified business income.

Of particular importance is the Section 897 ordinary distribution component, representing approximately 29% of each payment. This classification is important for foreign investors as these amounts are subject to FIRPTA (Foreign Investment in Real Property Tax Act) withholding rules.

For domestic investors, the predominant classification as ordinary taxable dividends means these distributions will typically be taxed at their ordinary income tax rates, subject to the Section 199A deduction benefit. The consistency in the quarterly distribution structure from Q2-Q4 provides predictability for investor tax planning, though the slight reduction from the Q1 amount suggests careful distribution management by the company.

BOSTON--(BUSINESS WIRE)-- American Tower Corporation (NYSE: AMT) today announced year-end tax reporting information for its 2024 distributions. Stockholders are urged to consult with their personal tax advisors as to their specific tax treatment.

American Tower Corporation Common Stock
CUSIP 03027X100
Ticker Symbol: AMT

Record Date	Payment Date	Cash Distribution (per share)	Ordinary Taxable Dividends (per share)	Qualified Taxable Dividends (1) (per share)	Section 199A Dividends (1) (per share)	Section 897 Ordinary Distribution (1) (per share)
12/28/2023	02/01/2024	1.700000	1.700000	0.020442	1.679558	0.489100
04/12/2024	04/26/2024	1.620000	1.620000	0.019480	1.600520	0.466084
06/14/2024	07/12/2024	1.620000	1.620000	0.019480	1.600520	0.466084
10/09/2024	10/25/2024	1.620000	1.620000	0.019480	1.600520	0.466084

(1) Included in Ordinary Taxable Dividends

Note: For the tax year ended December 31, 2024, there were no capital gain, unrecaptured section 1250 gain, or non-dividend distributions. Further, the quarterly distribution declared on December 5, 2024, which is payable on February 3, 2025, will apply to the 2025 tax year.

This information represents the final income allocations impacting tax year 2024.

About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 148,000 communications sites and a highly interconnected footprint of U.S. data center facilities. For more information about American Tower, please visit www.americantower.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121468767/en/

Adam Smith

Senior Vice President, Investor Relations

Telephone: (617) 375-7500

Source: American Tower Corporation

FAQ

What is AMT's dividend payment schedule for 2024?

AMT paid dividends on February 1 ($1.70), April 26 ($1.62), July 12 ($1.62), and October 25 ($1.62) of 2024.

How much of AMT's 2024 dividends qualify as Section 199A dividends?

For each distribution in 2024, the Section 199A dividends were $1.679558, $1.600520, $1.600520, and $1.600520 per share respectively.

What is the total dividend amount paid by AMT in 2024?

AMT paid a total of $6.56 per share in dividends during 2024.

Were there any capital gain distributions for AMT shareholders in 2024?

No, AMT reported no capital gain, unrecaptured section 1250 gain, or non-dividend distributions for the 2024 tax year.

What portion of AMT's 2024 dividends qualified as Section 897 ordinary distributions?

The Section 897 ordinary distributions were $0.489100, $0.466084, $0.466084, and $0.466084 per share for each quarterly payment respectively.