Saul Centers, Inc. Announces Tax Treatment of 2022 Dividends

Rhea-AI Summary

Saul Centers, Inc. (NYSE: BFS) has announced the tax treatment of its 2022 dividends, totaling $2.32 per share for common stock. Of this amount, 56.8% or $1.32 per share is classified as ordinary income, while 43.2% or $1.00 per share is considered return of capital. Additionally, the company paid dividends on its preferred stock amounting to $1.53125 for Series D and $1.50000 for Series E, all categorized as ordinary income. Shareholders will receive this information via Form 1099-DIV.

Positive

• Quarterly dividends for common stock totaled $2.32 per share, providing income for shareholders.
• Dividend classification allows for potential tax benefits for shareholders through section 199A.

Negative

• None.

BETHESDA, Md., Jan. 19, 2023 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust (REIT), announced today the income tax treatment of its 2022 dividends. During 2022, the Company declared and paid four quarterly dividends on its Common Stock totaling $2.32 per share. For tax purposes, 56.8% of the dividends ($1.32 per common share) are characterized as ordinary income, while 43.2% of the dividends ($1.00 per common share) are characterized as return of capital. The information will be reported to shareholders on Form 1099-DIV and the ordinary income portion will be reported as section 199A dividends.

During 2022, the Company declared and paid the following dividends on its preferred stock:

• Four dividends totaling $1.53125 per depositary share on its 6.125% Series D Preferred Stock; and
• Four dividends totaling $1.50000 per depositary share on its 6.000% Series E Preferred Stock

For tax purposes, 100.0% of the Preferred Stock dividends are characterized as ordinary income. The information will be reported to shareholders on Form 1099-DIV and will be reported as section 199A dividends.

Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 61 properties which includes (a) 50 community and neighborhood shopping centers and seven mixed-use properties with approximately 9.8 million square feet of leasable area and (b) four land and development properties. Over 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.

More information about Saul Centers, Inc. is available on the Company's website at www.SaulCenters.com.

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SOURCE Saul Centers, Inc.

FAQ

What was the total dividend amount declared by Saul Centers for 2022?

Saul Centers declared a total dividend of $2.32 per share for common stock in 2022.

How is the 2022 dividend for common stock classified for tax purposes?

For tax purposes, 56.8% of the common stock dividends are categorized as ordinary income and 43.2% as return of capital.

What dividends did Saul Centers pay on its preferred stock in 2022?

The company paid $1.53125 per depositary share on its 6.125% Series D Preferred Stock and $1.50000 on its 6.000% Series E Preferred Stock.