Essex Reports Characteristics of 2022 Dividends

Rhea-AI Summary

Essex Property Trust, Inc. (NYSE:ESS) has announced the income tax treatment for its 2022 shareholder distributions. The total cash distribution for 2022 amounted to $8.69 per share, comprising ordinary taxable income of $6.97 and a return of capital of $1.72. The distributions were recorded on various dates throughout 2022, with the last in September. No foreign taxes were incurred during the year. Shareholders should consult tax advisors regarding specific treatment of these dividends.

Positive

• Total cash distribution of $8.69 per share positively impacts shareholder income.
• Ordinary taxable income portion of $6.97 suggests strong revenue generation.

Negative

• None.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Essex Property Trust, Inc. (NYSE:ESS) announced today the income tax treatment for its 2022 distributions to shareholders. The 2022 distribution characteristics are as follows:

Common Stock – CUSIP Number 297178105:

Record	Payment	Cash Distribution			Ordinary Taxable			Qualified		Return of			Capital Gain			Unrecaptured Section 1250 Capital Gain			Section 199A		Section 897
Date	Date	Per Share			Dividend			Dividend		Capital			(20% rate)			(25% rate)			Dividend		Gain
1/3/2022	1/14/2022	$	2.09000		$	1.67553		$	0.06818	$	0.00000		$	0.35073		$	0.06374		$	1.60735	$	0.41447
3/31/2022	4/14/2022	$	2.20000		$	1.76371		$	0.07176	$	0.00000		$	0.36919		$	0.06710		$	1.69195	$	0.43629
6/30/2022	7/15/2022	$	2.20000		$	1.76371		$	0.07176	$	0.00000		$	0.36919		$	0.06710		$	1.69195	$	0.43629
9/30/2022	10/14/2022	$	2.20000		$	1.76371		$	0.07176	$	0.00000		$	0.36919		$	0.06710		$	1.69195	$	0.43629
Totals:		$	8.69000		$	6.96666		$	0.28346	$	0.00000		$	1.45830		$	0.26504		$	6.68320	$	1.72334
Percentages:			100	%		80.169	%				0.000	%		16.781	%		3.050	%

The Company did not incur any foreign taxes during 2022.

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 253 apartment communities comprising approximately 62,000 apartment homes with an additional property in 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/20230117005987/en/

Rylan Burns

Group VP of Private Equity & Finance

(650) 655-7800

Source: Essex Property Trust, Inc.

FAQ

What is the cash distribution amount for Essex Property Trust in 2022?

The total cash distribution for 2022 is $8.69 per share.

What portion of the 2022 distribution is ordinary taxable income for ESS?

The ordinary taxable income portion is $6.97 per share.

Did Essex Property Trust incur any foreign taxes in 2022?

No, Essex Property Trust did not incur any foreign taxes during 2022.

When were the distributions paid to shareholders for Essex Property Trust?

Distributions were paid on various dates throughout 2022, with the last payment made in October.

Should shareholders consult a tax advisor for Essex Property Trust dividends?

Yes, shareholders are encouraged to consult with their tax advisors regarding the specific tax treatment of the dividends.