Essex Reports Characteristics of 2021 Dividends

Rhea-AI Summary

Essex Property Trust, Inc. (NYSE:ESS) announced the income tax treatment for its 2021 shareholder distributions, totaling $8.34750 per share, with a dividend of $5.92030. The distributions included various taxable components, such as $1.84244 categorized as ordinary taxable income. Key payment dates for these distributions were set between January 15 and October 15, 2021. The company confirmed no foreign taxes were incurred during the year and encourages shareholders to consult tax advisors regarding their specific tax treatments.

Positive

• Total distributions of $8.34750 per share signify strong shareholder returns.
• Ordinary taxable income portion of $5.92030 reflects profitability.

Negative

• Taxable income from dividends may impact shareholder net income.
• No capital gain distributions could limit attractiveness for certain investors.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Essex Property Trust, Inc. (NYSE:ESS) announced today the income tax treatment for its 2021 distributions to shareholders. The 2021 distribution characteristics are as follows:

Common Stock – CUSIP Number 297178105:

Record	Payment	Cash Distribution	Ordinary Taxable	Return of	Capital Gain	Unrecaptured Section 1250 Capital Gain	Section 199A	Sec. 897 Capital
Date	Date	Per Share	Dividend	Capital	(20% rate)	(25% rate)	Dividend	Gains
1/4/2021	1/15/2021	$2.07750	$1.47343	$0.00000	$0.45854	$0.14553	$1.47343	$0.60407
3/31/2021	4/15/2021	$2.09000	$1.48229	$0.00000	$0.46130	$0.14641	$1.48229	$0.60771
6/30/2021	7/15/2021	$2.09000	$1.48229	$0.00000	$0.46130	$0.14641	$1.48229	$0.60771
9/30/2021	10/15/2021	$2.09000	$1.48229	$0.00000	$0.46130	$0.14641	$1.48229	$0.60771
	Totals:	$8.34750	$5.92030	$0.00000	$1.84244	$0.58476	$5.92030	$2.42720
	Percentages:	100%	70.923%	0.000%	22.072%	7.005%

For purposes of calculating alternative minimum taxable income under Sec. 55 of the Internal Revenue Code of 1986, the Company apportions $0.17 per common share attributable to depreciation assuming a full year of ownership.

The Company did not incur any foreign taxes during 2021.

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 247 apartment communities comprising approximately 60,000 apartment homes with an additional 3 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/20220114005462/en/

Rylan Burns

Group VP of Private Equity & Finance

(650) 655-7800

rburns@essex.com

Source: Essex Property Trust, Inc.

FAQ

What is the total distribution amount for Essex Property Trust in 2021?

The total distribution amount is $8.34750 per share.

When are the payment dates for Essex Property Trust's 2021 distributions?

Payment dates range from January 15 to October 15, 2021.

What is the tax treatment of the 2021 distributions from Essex Property Trust?

The distributions include ordinary taxable income and return of capital, with shareholders advised to consult tax advisors.

How much is the ordinary taxable income from Essex Property Trust's distributions?

The ordinary taxable income amounts to $5.92030 per share.

Did Essex Property Trust incur foreign taxes in 2021?

No, Essex Property Trust did not incur any foreign taxes during 2021.