Essex Reports Characteristics of 2020 Dividends

Rhea-AI Summary

Essex Property Trust, Inc. (NYSE:ESS) has announced the income tax treatment for its 2020 distributions to shareholders. Key details include total cash distributions amounting to $8.18250 per share, with $6.97413 classified as ordinary taxable and $0.87390 as capital gains. The dividend payment dates varied throughout the year, starting from January 15, 2020. Shareholders are advised to consult tax advisors for individual tax treatment. Essex operates as a real estate investment trust, managing 246 apartment communities along the West Coast.

Positive

• Shareholders received a total cash distribution of $8.18250 per share for 2020.
• Essex has a strong portfolio of 246 apartment communities, enhancing income potential.

Negative

• No foreign taxes were incurred, which may limit potential tax benefits for some investors.

Essex Property Trust, Inc. (NYSE:ESS) announced today the income tax treatment for its 2020 distributions to shareholders. The 2020 distribution characteristics are as follows:

Common Stock – CUSIP Number 297178105:

												Unrecaptured
Record		Payment		Cash Distribution		Ordinary Taxable		Return of		Capital Gain		Section 1250 Capital Gain		Section 199A
Date		Date		Per Share		Dividend		Capital		(20% rate)		(25% rate)		Dividend
1/2/2020		1/15/2020		$1.95000		$1.66203		$0.00000		$0.20826		$0.07971		$1.66203
3/31/2020		4/15/2020		$2.07750		$1.77070		$0.00000		$0.22188		$0.08492		$1.77070
6/30/2020		7/15/2020		$2.07750		$1.77070		$0.00000		$0.22188		$0.08492		$1.77070
9/30/2020		10/15/2020		$2.07750		$1.77070		$0.00000		$0.22188		$0.08492		$1.77070
		Totals:		$8.18250		$6.97413		$0.00000		$0.87390		$0.33447
		Percentages:		100%		85.232%		0.0000%		10.680%		4.088%

For purposes of calculating alternative minimum taxable income under Sec. 55 of the Internal Revenue Code of 1986, the Company apportions $0.13 per common share attributable to depreciation assuming a full year of ownership.

The Company did not incur any foreign taxes during 2020.

Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of Essex Property Trust, Inc. dividends.

About Essex Property Trust, Inc.

Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 246 apartment communities comprising approximately 60,000 apartment homes with an additional 6 properties in various stages of active development. Additional information about the Company can be found on the Company’s website at www.essex.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210115005501/en/

FAQ

What was the total cash distribution per share for Essex Property Trust in 2020?

The total cash distribution per share for Essex Property Trust in 2020 was $8.18250.

When were the dividend payments made for Essex Property Trust in 2020?

The dividend payments for Essex Property Trust in 2020 were made on various dates including January 15, April 15, July 15, and October 15.

What portion of the Essex Property Trust distribution was classified as ordinary taxable income?

$6.97413 per share of the distribution was classified as ordinary taxable income.

Did Essex Property Trust incur foreign taxes during 2020?

No, Essex Property Trust did not incur any foreign taxes during 2020.

What should shareholders consider regarding tax treatment of Essex Property Trust dividends?

Shareholders are encouraged to consult with their tax advisors regarding the specific tax treatment of Essex Property Trust dividends.