An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Equity Commonwealth Declares Special Cash Distribution of $1.00 Per Common Share
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Equity Commonwealth (NYSE: EQC) has declared a special cash distribution of $1.00 per common share, payable on October 18, 2022, to shareholders recorded by September 29, 2022. The company anticipates that this distribution will primarily be taxed as ordinary income, though it cannot guarantee this outcome. The actual tax characterization will be announced in January 2023 with the company's regular tax reporting. Equity Commonwealth specializes in commercial office properties across the United States.
Positive
Declared a special cash distribution of $1.00 per share.
Distribution date set for October 18, 2022.
Negative
Uncertainty regarding the actual tax characterization of the distribution.
CHICAGO--(BUSINESS WIRE)--
Equity Commonwealth (NYSE: EQC) announced today that its Board of Trustees has declared a special, one-time cash distribution of $1.00 per common share which will be paid on October 18, 2022 to shareholders of record on September 29, 2022.
The company currently expects the tax character of the 2022 special cash distribution to be largely ordinary income. The company cannot provide any assurances that its current expectations will prove to be accurate. The actual tax characterization will be based on the company’s results of operations for the full year 2022. The company currently expects to announce the tax characterization of the 2022 distribution with its normal tax reporting in January 2023.
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 same property portfolio is comprised of 4 properties and 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.
Forward-Looking Statements
This press release may contain forward-looking statements and information within the meaning of the federal securities laws. These statements, including statements relating to the expected tax treatment of distributions, are based on current expectations, estimates, projections and assumptions made by management. While Equity Commonwealth management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks. Other risks and uncertainties are described under the heading “Risk Factors” in our Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC) and available on our website, www.eqcre.com. Many of these uncertainties and risks are difficult to predict and beyond management’s control. Forward-looking statements are not guarantees of future performance, results or events. Equity Commonwealth assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
