CBL Properties Announces Tax Reporting Information for 2022 Common Stock Dividends

Rhea-AI Summary

CBL Properties (NYSE: CBL) has released its tax reporting information for 2022 distributions on its common stock. Shareholders will receive an ordinary taxable dividend of $2.95 per share, with record dates spread across July, September, December, and a payable date in January 2023. Notably, 98.581% of the distributions qualify as ordinary taxable dividends, while 1.419% represents capital gains. CBL emphasizes that none of the dividends are eligible for reduced rates as qualified dividend income. This information serves as final income allocations for tax reporting purposes.

Positive

• Total dividends for 2022 are reported at $2.95 per share, with the majority qualifying as ordinary taxable dividends.

Negative

• None of the dividends qualify as 'qualified dividend income', which could limit tax benefits for shareholders.

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL Properties (NYSE:CBL) today announced tax reporting (Federal 1099) information for the 2022 distributions on its Common stock.

CBL & Associates Properties, Inc., Common Stock
CUSIP# 124830-878
NYSE: CBL

Record Date	Payable Date	Distribution Per Share	2022 Ordinary Taxable Dividends (Box 1A)	2022 Capital Gain Distribution (Box 2A)	2022 Non- Dividend Distribution (ROC) (Box 3)	Section 199A Dividends (Box 5) (1)
07/11/2022	07/20/2022	$0.25	$0.2464513	$0.0035487	$0.000000	$0.2464513
09/15/2022	09/30/2022	$0.25	$0.2464513	$0.0035487	$0.000000	$0.2464513
12/1/2022	12/30/2022	$0.25	$0.2464513	$0.0035487	$0.000000	$0.2464513
12/12/2022	01/18/2023	$2.20	$2.1687712	$0.0312288	$0.000000	$2.1687712
Totals		$2.95	$2.9081251	$0.0418749	$0.000000	$2.9081251
Percentage			98.581%	1.419%	0.00%	98.581%

(1)

Under Section 199A, REIT dividends are eligible for a 20% deduction when received by eligible taxpayers. Please consult your tax advisor for proper tax treatment of the dividend distribution.

No Alternative Minimum Taxable Income adjustment is included in the current year for the recipients of the above distributions.

None of the dividends above represent “qualified dividend income” and, therefore, are not eligible for reduced rates.

Section 1061 Disclosure

Pursuant to Treas. Reg. § 1.1061-6(c), CBL Properties is disclosing below two additional amounts related to the capital gain dividends reported in Form 1099-DIV Box 2a, Total Capital Gain Distr. for purposes of section 1061 of the Internal Revenue Code. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests.”

Record Date	Payable Date	Section 1061 One-Year Amount Disclosure	Section 1061 Three-Year Amount Disclosure
07/11/2022	07/20/2022	$0.0035487	$0.0035487
09/15/2022	09/30/2022	$0.0035487	$0.0035487
12/1/2022	12/30/2022	$0.0035487	$0.0035487
12/12/2022	01/18/2023	$0.0312288	$0.0312288
Totals		$0.0418749	$0.0418749
Percentage (1)		100.00%	100.00%

(1)

Represents the percentage of the amount reported in Box 2a applicable to the One-Year and Three-Year amounts.

Supplementary Information for Non-U.S. Shareholders:

Record Date	Payable Date	Section 897 Ordinary Dividends (Box 2E) (1)	Section 897 Capital Gain (Box 2F) (1)
07/11/2022	07/20/2022	$0.0225648	$0.0035487
09/15/2022	09/30/2022	$0.0225648	$0.0035487
12/1/2022	12/30/2022	$0.0225648	$0.0035487
12/12/2022	01/18/2023	$0.1985696	$0.0312288
Totals		$0.2662640	$0.0418749

(1)

Amounts represent the amount per share to be reported in Box 2E and 2F on Form 1099-DIV.

This information represents FINAL income allocations.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 94 properties totaling 58.5 million square feet across 22 states, including 56 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K, and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" included therein, for a discussion of such risks and uncertainties.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005583/en/

Investor Contact: Katie Reinsmidt, EVP & Chief Investment Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com

Source: CBL Properties

FAQ

What is the dividend amount announced by CBL Properties for 2022?

CBL Properties announced a dividend of $2.95 per share for 2022.

When are the payable dates for CBL Properties' 2022 distributions?

The payable dates for the 2022 distributions are on January 18, 2023, and earlier in 2022.

What percentage of the dividends are considered ordinary taxable dividends?

98.581% of the distributions are classified as ordinary taxable dividends.

Are the dividends from CBL Properties eligible for reduced tax rates?

No, none of the dividends announced are eligible for reduced rates as they are not considered qualified dividend income.