Equity Commonwealth Announces Tax Treatment of 2023 Distributions

Rhea-AI Summary

Equity Commonwealth (EQC) has announced the tax treatment of its 2023 common and preferred share distributions. The common stock will have a total distribution of $4.25 per share, with $2.72 as taxable ordinary dividends and $1.53 as non-taxable distribution. The Series D Cumulative Convertible Preferred Stock will have a total distribution of $1.625 per share, with $1.625 as taxable ordinary dividends. Shareholders are advised to consult with their tax advisors for specific tax treatment.

CHICAGO--(BUSINESS WIRE)-- Equity Commonwealth (NYSE: EQC) today announced the tax treatment of its 2023 common and preferred share distributions, which is as follows:

Common Stock (CUSIP No. 294628102)
Record Date							Payment Date	Total Distribution per Share	2023 Taxable Ordinary Dividends	2023 Non-taxable Distribution (Return of Capital)	2023 Section 199A Dividends1
2/23/2023							3/09/2023	$ 4.25	$ 2.72	$ 1.53	$ 2.72

Series D Cumulative Convertible Preferred Stock (CUSIP No. 294628201)
Record Date	Payment Date	Total Distribution per Share		2023 Taxable Ordinary Dividends		2023 Section 199A Dividends1
1/31/2023	2/15/2023	$	0.406250	$	0.406250	$	0.406250
4/28/2023	5/15/2023	$	0.406250	$	0.406250	$	0.406250
7/31/2023	8/15/2023	$	0.406250	$	0.406250	$	0.406250
10/31/2023	11/15/2023	$	0.406250	$	0.406250	$	0.406250
	Total	$	1.625000	$	1.625000	$	1.625000
12023 Section 199A Dividends are reported in Box 5 of Form 1099-DIV. 2023 Section 199A Dividends are a subset of, and included in, 2023 Taxable Ordinary Dividends, which are reported in Box 1a of Form 1099-DIV.

This release is based on estimates and is subject to correction or adjustment when the tax filings are completed. No material change in these classifications is expected. Shareholders are encouraged to consult with their tax advisors as to the specific tax treatment of the distributions they received from the Company.

About Equity Commonwealth

Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. EQC’s portfolio is comprised of 4 properties totaling 1.5 million square feet.

Regulation FD Disclosures

We use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.eqcre.com, including information that may be deemed to be material. We encourage investors and others interested in the company to monitor these distribution channels for material disclosures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240125510669/en/

Investor Contact

Bill Griffiths, Equity Commonwealth, (312) 646-2801

Source: Equity Commonwealth

FAQ

What is the total distribution per share for Equity Commonwealth's common stock?

The total distribution per share for Equity Commonwealth's common stock is $4.25.

How much of the common stock distribution is taxable ordinary dividends?

The taxable ordinary dividends for the common stock distribution is $2.72 per share.

What is the total distribution per share for Equity Commonwealth's Series D Cumulative Convertible Preferred Stock?

The total distribution per share for Equity Commonwealth's Series D Cumulative Convertible Preferred Stock is $1.625.

How much of the preferred stock distribution is taxable ordinary dividends?

The taxable ordinary dividends for the preferred stock distribution is $1.625 per share.

Where are the 2023 Section 199A Dividends reported?

The 2023 Section 199A Dividends are reported in Box 5 of Form 1099-DIV.

What should shareholders do regarding the tax treatment of the distributions?

Shareholders are encouraged to consult with their tax advisors for specific tax treatment of the distributions.