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FCPT Announces Tax Treatment of 2022 Distributions
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Rhea-AI Summary
Four Corners Property Trust (NYSE: FCPT) has announced the tax characterization of its common stock distributions for 2022. The total distribution of $1.33 per share consists of $1.2008 in ordinary taxable dividends and $0.1292 in qualified taxable dividends. Shareholders will receive IRS Form 1099-DIV for reporting purposes. The company emphasizes that federal income tax returns for 2022 have not yet been filed and advises shareholders to consult tax advisors for individual tax implications due to the complexities of state and local taxation. FCPT focuses on acquiring high-quality, net-leased restaurant and retail properties.
Positive
Total distribution of $1.33 per share for 2022, with $1.2008 classified as ordinary taxable dividends, indicating stable income for shareholders.
Qualified taxable dividends of $0.1292 can benefit shareholders in terms of tax treatment.
Negative
Federal income tax return for the year 2022 has not been filed, indicating potential uncertainties in tax implications for shareholders.
Complexities in state and local taxation may lead to confusion for shareholders on how to report distributions.
MILL VALLEY, Calif.--(BUSINESS WIRE)--
Four Corners Property Trust, Inc. (NYSE: FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today the tax characterization of its 2022 common stock distributions as shown below.
Record Date
Payment Date
Total Distribution
($ per share)
Form 1099
Box 1a
Ordinary Taxable Dividend
($ per share)
Form 1099
Box 1b
Qualified Taxable Dividend (1)
($ per share)
Form 1099
Box 3
Return of Capital
($ per share)
Form 1099 Box 5
Section 199A
Dividends
($ per share)
1/3/2022
1/14/2022
$0.3325
$0.3002
-
$0.0323
$0.3002
3/31/2022
4/14/2022
$0.3325
$0.3002
-
$0.0323
$0.3002
6/30/2022
7/15/2022
$0.3325
$0.3002
-
$0.0323
$0.3002
9/30/2022
10/14/2022
$0.3325
$0.3002
-
$0.0323
$0.3002
Totals
$1.3300
$1.2008
-
$0.1292
$1.2008
(1) Qualified Taxable Dividends are a subset of, and included in, Ordinary Taxable Dividends.
The common stock dividend of $0.34 per share that was paid on January 13, 2023 to shareholders of record on December 30, 2022 will be applicable to the 2023 tax year.
If you held common stock of FCPT in your name at any time during 2022, an IRS Form 1099-DIV will be provided to you by Broadridge Corporate Issuer Solutions, FCPT’s transfer agent during 2022. If you held shares in "street name" during 2022, the IRS form provided by your bank, brokerage firm or nominee may report only the gross distributions paid to you. Therefore, you may need the information included in this press release to properly complete your federal tax return.
There are many important considerations associated with the taxability of the company’s distributions in 2022. This information has been prepared using the best available information to date. FCPT’s federal income tax return for the year ended December 31, 2022 has not yet been filed. Please note that federal tax laws affect taxpayers differently, and we cannot advise you on how distributions should be reported on your federal income tax return. Also note that state and local taxation of REIT distributions vary and may not be the same as the taxation under the federal rules. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment related to FCPT common stock dividends.
About FCPT:
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
