Camden Property Trust Announces Tax Characteristics of 2024 Distributions

Rhea-AI Summary

Camden Property Trust (NYSE:CPT) has disclosed the tax characteristics of its 2024 dividend distributions to shareholders, which will be reported on Form 1099-DIV. The company will distribute $1.03 per share quarterly, totaling $4.12 for the year. Each quarterly distribution consists of:

- $0.822523 in Ordinary Taxable Dividends
- $0.010901 in Qualified Dividends
- $0.207477 in Long Term Capital Gain
- $0.075189 in Sec. 1250 Gain (25% Rate)
- $0.179177 in Section 897(h) Gain
- $0.811622 in Section 199A Dividends

The final distribution scheduled for January 17, 2025, will be considered part of the 2024 tax year.

Positive

• Consistent quarterly dividend payments of $1.03 per share throughout 2024
• Total annual dividend distribution of $4.12 per share

Negative

• None.

Insights

Financial Analyst

Camden Property Trust's detailed tax classification of its 2024 distributions reveals important insights about the company's financial structure and shareholder returns. The consistent quarterly dividend of $1.03 per share demonstrates stability in the company's distribution policy.

Breaking down the numbers: About 79.9% of each distribution is classified as ordinary taxable dividends, with a small portion qualifying for preferential qualified dividend tax treatment. The remaining 20.1% represents long-term capital gains, including Section 1250 gains from real estate depreciation recapture.

For investors, this classification is significant because:

• The high proportion of ordinary dividends suggests most of Camden's distributions come from operational income rather than asset sales
• The Section 199A dividend classification ($0.81 of each $1.03 payment) allows for a potential 20% tax deduction for qualified taxpayers
• The consistent quarterly amounts indicate strong, predictable cash flows from Camden's multifamily property portfolio

This tax-efficient structure is characteristic of well-managed REITs and suggests Camden is effectively balancing operational income with capital appreciation in its property portfolio.

HOUSTON--(BUSINESS WIRE)-- Camden Property Trust (NYSE:CPT) announced today the income tax characteristics of its 2024 distributions paid to shareholders as they will be reported on Form 1099-DIV. The Company is releasing information at this time to aid banks, brokerage firms, and institutional investors that are required to issue Forms 1099 to their account holders. The final classifications of the distributions for 2024 are as follows:

Camden Property Trust – Common Shares (CUSIP – 133131102)

Record Date	Payment Date	Total Distribution Per Share(1)	Ordinary Taxable Dividends	Qualified Dividends(2)	Long Term Capital Gain	Sec. 1250 Gain 25% Rate(3)	Section 897(h) Gain(3)	Section 199A Dividends(2)
3/29/24	4/17/24	$1.030000	$0.822523	$0.010901	$0.207477	$0.075189	$0.179177	$0.811622
6/28/24	7/17/24	$1.030000	$0.822523	$0.010901	$0.207477	$0.075189	$0.179177	$0.811622
9/30/24	10/17/24	$1.030000	$0.822523	$0.010901	$0.207477	$0.075189	$0.179177	$0.811622
12/18/24	1/17/25	$1.030000	$0.822523	$0.010901	$0.207477	$0.075189	$0.179177	$0.811622

(1)	The distribution paid on January 17, 2025 is considered a 2024 distribution for US federal income tax purposes and is subject to taxation based on the Company’s 2024 earnings and profits.
(2)	These amounts are a subset of, and included in, the 2024 Ordinary Taxable Dividends amount.
(3)	These amounts are a subset of, and included in, the 2024 Long Term Capital Gain amount.

The tax treatment of these dividends by state and local authorities may vary from the federal treatment. Because federal and state tax laws affect taxpayers differently, the Company cannot advise shareholders how dividends should be reported on their tax returns. The Company encourages shareholders to consult their own tax advisors for the income tax consequences of the dividend payments outlined above.

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates, and projections about the industry and markets in which Camden operates, management's beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties which are difficult to predict. Factors which may cause the Company’s actual results or performance to differ materially from those contemplated by forward-looking statements are described under the heading “Risk Factors” in Camden’s Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission (SEC). Forward-looking statements made in today’s press release represent management’s current opinions at the time of this publication, and the Company assumes no obligation to update or supplement these statements because of subsequent events.

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 174 properties containing 58,858 apartment homes across the United States. Upon completion of 3 properties currently under development, the Company’s portfolio will increase to 59,996 apartment homes in 177 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 17 consecutive years, most recently ranking #24.

For additional information, please contact Camden’s Investor Relations Department at (713) 354-2787 or access our website at camdenliving.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121016608/en/

Kim Callahan, 713-354-2549

Source: Camden Property Trust

FAQ

What is Camden Property Trust's (CPT) dividend payment schedule for 2024?

Camden Property Trust will pay quarterly dividends of $1.03 per share on April 17, July 17, October 17, 2024, and January 17, 2025.

How much of CPT's 2024 quarterly dividend is classified as Ordinary Taxable Dividends?

$0.822523 of each quarterly dividend payment is classified as Ordinary Taxable Dividends.

What portion of CPT's 2024 dividend qualifies as Section 199A Dividends?

$0.811622 of each quarterly dividend payment qualifies as Section 199A Dividends.

When will CPT's final 2024 dividend be paid?

The final 2024 dividend will be paid on January 17, 2025, but will be considered a 2024 distribution for tax purposes.

What is the total annual dividend amount for CPT shareholders in 2024?

The total annual dividend amount for 2024 is $4.12 per share, paid in four quarterly installments of $1.03 each.