First Industrial Realty Trust Reports Tax Treatment of Common Stock Distributions
On January 18, 2023, First Industrial Realty Trust, Inc. (NYSE: FR) announced the tax treatment for its 2022 stock distributions. The company emphasized that the release is based on preliminary tax filings, with no expected material changes. Shareholders are advised to consult tax advisors for personalized guidance. The summary includes detailed information on distributions made throughout 2022, totaling $1.1800 per share. Of this, ordinary dividends were $1.1572, while qualified dividends accounted for $0.0852. The company also reported capital gain distributions and other tax-related classifications, ensuring stakeholders are informed on the tax implications of their investments.
- No material changes expected in reported tax treatment of distributions.
- Total distributions of $1.1800 per share reflects a stable income scenario.
- None.
This release is based on the preliminary results of work on the Company's tax filings and may be subject to correction or adjustment when the filings are completed. However, no material change in the information reported is expected. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment.
The table below summarizes the income tax treatment of the Company's 2022 common stock distributions.
Record Date | Payable Date | Cash Distribution | Ordinary | Qualified | Capital Gain | Unrecaptured | Section 199A | Section 1061 | Section 1061 | ||
Total | |||||||||||
Percentage | 100.0 % | 98.1 % | 1.9 % | ||||||||
(1) Qualified Dividends (Box 1b) are a subset of, and are included in, Ordinary Dividends reported in Box 1a. | |||||||||||
(2) | |||||||||||
(3) Unrecaptured Section 1250 Gain (Box 2b) is a subset of, and is included in, Capital Gain Distributions reported in Box 2a. | |||||||||||
(4) Section 199A Dividends (Box 5) are a subset of, and are included in, Ordinary Dividends reported in Box 1a. | |||||||||||
(5) Pursuant to Section 1061 of the Internal Revenue Code, | |||||||||||
Capital Gain Distributions. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests." | |||||||||||
About
Forward-Looking Information
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on certain assumptions and describe our future plans, strategies and expectations, and are generally identifiable by use of the words "believe," "expect," "plan," "intend," "anticipate," "estimate," "project," "seek," "target," "potential," "focus," "may," "will," "should" or similar words. Although we believe the expectations reflected in forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. Factors which could have a materially adverse effect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically; changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities; the uncertainty and economic impact of pandemics, epidemics or other public health emergencies or fear of such events, such as the outbreak of coronavirus disease 2019 (COVID-19); our ability to qualify and maintain our status as a real estate investment trust; the availability and attractiveness of financing (including both public and private capital) and changes in interest rates; the availability and attractiveness of terms of additional debt repurchases; our ability to retain our credit agency ratings; our ability to comply with applicable financial covenants; our competitive environment; changes in supply, demand and valuation of industrial properties and land in our current and potential market areas; our ability to identify, acquire, develop and/or manage properties on favorable terms; our ability to dispose of properties on favorable terms; our ability to manage the integration of properties we acquire; potential liability relating to environmental matters; defaults on or non-renewal of leases by our tenants; decreased rental rates or increased vacancy rates; higher-than-expected real estate construction costs and delays in development or lease-up schedules; potential natural disasters and other potentially catastrophic events such as acts of war and/or terrorism; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; risks associated with our investments in joint ventures, including our lack of sole decision-making authority; and other risks and uncertainties described under the heading "Risk Factors" and elsewhere in our annual report on Form 10-K for the year ended
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