Crown Castle Announces Tax Reporting Information for 2020 Distributions

Rhea-AI Summary

Crown Castle International Corp. (NYSE: CCI) released year-end tax reporting details regarding 2020 distributions for its Common and Preferred Stock. Shareholders are advised to consult tax advisors for specific treatments. Key figures include cash distributions of $1.20 per share for Common Stock in March, June, and September, while December saw a rise to $1.33. Preferred Stock distributions were reported at $17.1875 per share throughout the year. Notably, there were no long-term capital gains or non-taxable distributions affecting shareholders during 2020.

Positive

• Cash distribution for Common Stock increased to $1.33 in December 2020 from $1.20 in previous quarters.
• Consistent cash distributions of $17.1875 per share for Preferred Stock throughout 2020.

Negative

• None.

HOUSTON, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) (“Crown Castle”) announced today certain year-end tax reporting information for its 2020 distributions.

The following tables summarize, for income tax purposes, the nature of distributions paid to holders of Crown Castle Common Stock, par value $.01 per share (“Common Stock”), and holders of Crown Castle 6.875% Mandatory Convertible Preferred Stock (“Preferred Stock”), presented on a per share basis, during the calendar year ended December 31, 2020. Stockholders are encouraged to consult with their tax advisors as to their specific tax treatment of Crown Castle’s distributions.

Crown Castle Common Stock
Ticker Symbol: CCI

Record Date	Payable Date	Cash Distribution (per share)		Ordinary Taxable  Dividend  (per share)		Qualified Taxable Dividend  (per share)*		Section 199A Dividend  (per share)*		Non-Taxable Distribution (per share)
3/13/2020	3/31/2020	$1.20		$0.788		$0.010		$0.778		$0.412
6/12/2020	6/30/2020	$1.20		$0.788		$0.010		$0.778		$0.412
9/15/2020	9/30/2020	$1.20		$0.788		$0.010		$0.778		$0.412
12/15/2020	12/31/2020	$1.33		$0.874		$0.012		$0.862		$0.456

*Qualified taxable dividend and section 199A dividend amounts included in ordinary taxable dividend amount.

Notes:

• During the calendar year ended December 31, 2020, there was no Unrecaptured Section 1250 Gain and no long-term capital gain with respect to the Common Stock.
• IRS Form 8937, Report of Organizational Actions Affecting Basis of Securities, disclosing additional information relating to the non-taxable distributions attributable to the Common Stock, has been posted to the Investors section of the Company’s website: www.crowncastle.com/investors/shareholder-services.

Crown Castle 6.875% Mandatory Convertible Preferred Stock
Ticker Symbol: CCI-PRA

Record Date	Payable Date	Cash Distribution (per share)		Ordinary Taxable  Dividend  (per share)		Qualified Taxable Dividend  (per share)*		Section 199A Dividend  (per share)*		Non-Taxable Distribution (per share)
1/15/2020	2/3/2020	$17.1875		$17.1875		$0.2265		$16.9610		$0.00
4/15/2020	5/1/2020	$17.1875		$17.1875		$0.2265		$16.9610		$0.00
7/15/2020	8/3/2020	$17.1875		$17.1875		$0.2265		$16.9610		$0.00

*Qualified taxable dividend and section 199A dividend amounts included in ordinary taxable dividend amount.

Notes:

• During the calendar year ended December 31, 2020, there was no Unrecaptured Section 1250 Gain, no long-term capital gain, and no non-taxable distributions with respect to the Preferred Stock.
  

ABOUT CROWN CASTLE

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them. For more information on Crown Castle, please visit www.crowncastle.com.

CONTACTS

Dan Schlanger, CFO Ben Lowe, VP & Treasurer Crown Castle International Corp. 713-570-3050

FAQ

What were the cash distributions for Crown Castle's Common Stock in 2020?

Crown Castle's Common Stock had cash distributions of $1.20 per share in March, June, and September, and increased to $1.33 in December 2020.

What is the tax treatment of Crown Castle's distributions for 2020?

Shareholders are encouraged to consult tax advisors for specific tax treatments, as the cash distributions have different tax implications.

Did Crown Castle report any long-term capital gains for 2020?

No, Crown Castle reported no long-term capital gains or non-taxable distributions for the year ended December 31, 2020.

What was the distribution amount for Crown Castle's Preferred Stock in 2020?

Crown Castle's Preferred Stock had consistent cash distributions of $17.1875 per share throughout 2020.