BXP Announces 2022 Tax Treatment of Its Distributions

Rhea-AI Summary

Boston Properties, Inc. (NYSE: BXP) has announced the 2022 tax treatment of distributions for its common stock. Key distribution details include a total distribution of $0.980000 per share, with $0.848701 classified as taxable ordinary dividends. The record date for the distribution was December 31, 2021, and the payment date was January 28, 2022. Additionally, a portion of the distribution on December 30, 2022 is allocable to 2022, totaling $0.025874. Shareholders are advised to consult tax professionals for personalized advice.

Positive

• Total distribution of $0.980000 per share reaffirms BXP's commitment to returning value to shareholders.
• Majority of the distribution classified as taxable ordinary dividends indicates solid cash flow.

Negative

• The allocation of only $0.025874 for federal tax purposes from the December 2022 distribution may indicate lower immediate returns.

BOSTON--(BUSINESS WIRE)-- Boston Properties, Inc. (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today the 2022 tax treatment of distributions on shares of its common stock, as described below. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment to them of these distributions.

Common Shares (CUSIP #101121101)
Record Date	Payment Date	Total Distribution per Share	Total Distribution Allocable to 2022	2022 Taxable Ordinary Dividends	2022 Qualified Dividends (1)	2022 Short-term Capital Gain (1)	2022 Total Capital Gain Distribution (2)	2022 Unrecaptured Section 1250 Gain (3)	2022 Section 199A Dividends (1)
12/31/2021	1/28/2022	$0.980000	$0.980000	$0.848701	$0.003162	$0.001079	$0.131299	$0.087860	$0.844460
3/31/2022	4/29/2022	$0.980000	$0.980000	$0.848701	$0.003162	$0.001079	$0.131299	$0.087860	$0.844460
6/30/2022	7/29/2022	$0.980000	$0.980000	$0.848701	$0.003162	$0.001079	$0.131299	$0.087860	$0.844460
9/30/2022	10/31/2022	$0.980000	$0.980000	$0.848701	$0.003162	$0.001079	$0.131299	$0.087860	$0.844460
12/30/2022	1/30/2023	$0.980000	$0.025874	$0.022407	$0.000083	$0.000025	$0.003467	$0.002320	$0.022299
		$4.900000	$3.945874	$3.417211	$0.012731	$0.004341	$0.528663	$0.353760	$3.400139
			100%	86.6021%			13.3979%
(1) These amounts are a subset of, and included in, the 2022 Taxable Ordinary Dividend amounts.
(2) These amounts are also reported as Section 897 gains attributable to dispositions of USRPIs. In addition, for purposes of Section 1061 of the Internal Revenue Code, 100% of the distributions reported as 2022 Total Capital Gain Distributions are from sales of assets that either generated Section 1231 gains or were held for more than 3 years. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interest.”
(3) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2022 Total Capital Gain Distribution amount.

The entire common stock distribution with a record date of December 31, 2021 is allocable to 2022 for federal income tax purposes. The common stock distribution with a record date of December 30, 2022 will be a split-year distribution with $0.025874 allocable to 2022 for federal income tax purposes and $0.954126 allocable to 2023 for federal income tax purposes.

ABOUT BXP

BXP (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets -Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of December 31, 2022, including properties owned by unconsolidated joint ventures, BXP’s portfolio totaled 54.0 million square feet and 192 properties, including 12 properties under construction/redevelopment. For more information about BXP, please visit our website.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230117006157/en/

AT BXP

Mike LaBelle

Executive Vice President

Chief Financial Officer and Treasurer

mlabelle@bxp.com

Michael Walsh

Senior Vice President

Chief Accounting Officer

mwalsh@bxp.com

Source: Boston Properties, Inc.

FAQ

What is the total distribution amount per share for BXP in 2022?

The total distribution amount per share for BXP in 2022 is $0.980000.

When was the record date for BXP's distribution in 2022?

The record date for BXP's distribution in 2022 was December 31, 2021.

How much of the December 30, 2022 distribution is allocable to 2022 for BXP?

A portion of $0.025874 from the December 30, 2022 distribution is allocable to 2022.

What is the payment date for BXP's distribution announced in 2022?

The payment date for BXP's distribution announced in 2022 was January 28, 2022.

What portion of BXP's total distribution is classified as taxable ordinary dividends?

BXP's total distribution includes $0.848701 classified as taxable ordinary dividends.