Franklin Street Properties Corp. Announces Tax Composition of 2022 Distributions

Rhea-AI Summary

Franklin Street Properties Corp. (FSP) announced the tax composition of its 2022 distributions. Shareholders are advised to consult their tax advisors regarding the specific tax treatment of these distributions. The press release includes details on the taxability of ordinary dividends, qualified dividends, and capital gain distributions. For 2022, the total distribution was $0.20 per share, with no taxable amounts or additional capital gains reported. The company focuses on real estate investments in U.S. Sunbelt and Mountain West regions and aims to qualify as a real estate investment trust (REIT).

Positive

• Focused on infill and central business district properties, indicating a targeted investment strategy.
• Total distribution of $0.20 per share maintained for 2022, reflecting stability in shareholder returns.

Negative

• No taxable amounts or additional capital gains reported for 2022, which may reduce perceived value for investors looking for tax-efficient income.

WAKEFIELD, Mass.--(BUSINESS WIRE)-- Franklin Street Properties Corp. (“FSP”) (NYSE American: FSP) announced today the tax composition of its 2022 distributions. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of FSP distributions.

Ticker Symbol: FSP
Common Stock (CUSIP # 35471R106)																			2022
							2022			2022			2022 Total						Unrecap.
				Total			Taxable			Taxable			Capital			2022			Section
Record		Payable		Distribution			Ordinary			Qualified			Gain			Return of			1250			Section 199A
Date		Date		per Share			Dividend			Dividend (1)			Distribution (2)			Capital			Gain (3)			Distribution
1/28/22		2/17/22		$	0.09		$	-		$	-		$	0.063310		$	0.026690		$	0.063258		$	-
4/15/22		5/5/22		$	0.09		$	-		$	-		$	0.063310		$	0.026690		$	0.063258		$	-
7/19/22		8/11/22		$	0.01		$	-		$	-		$	0.007034		$	0.002966		$	0.007029		$	-
10/21/22		11/10/22		$	0.01		$	-		$	-		$	0.007034		$	0.002966		$	0.007029		$	-
Totals				$	0.20		$	-		$	-		$	0.140688		$	0.059312		$	0.140574		$	-

(1)		2022 Total Qualified Dividend is a subset of, and included in, the 2022 Taxable Ordinary Dividend amount.
(2)		Amounts reported in 2022 Total Capital Gain Distribution will be Internal Revenue Code (“IRC”) Section 897 Capital Gains and will be reported in Box 2f of the Form 1099-DIV. For purposes of IRC Section 1061, 100% of the distributions reported as Total Capital Gain Distributions in Box 2a of the Form 1099-DIV are from sales of assets that either generated IRC Section 1231 gains or were held for more than 3 years. IRC Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests”.
(3)		Unrecaptured IRC Section 1250 Gain is a subset of, and included in, the 2022 Total Capital Gain Distribution amount and will be reported in Box 2b of the Form 1099-DIV.

This press release, along with other news about FSP, is available on the Internet at www.fspreit.com. We routinely post information that may be important to investors in the Investor Relations section of our website. We encourage investors to consult that section of our website regularly for important information about us and, if they are interested in automatically receiving news and information as soon as it is posted, to sign up for E-mail Alerts.

About Franklin Street Properties Corp.

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at www.fspreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005758/en/

For Franklin Street Properties Corp.

Georgia Touma, 877-686-9496

Source: Franklin Street Properties Corp.

FAQ

What is the tax composition of Franklin Street Properties Corp. (FSP) 2022 distributions?

The tax composition report indicates that the total distribution was $0.20 per share but contained no taxable amounts or capital gains for 2022.

How much was the distribution per share for FSP in 2022?

Franklin Street Properties Corp. (FSP) reported a total distribution of $0.20 per share for the year 2022.

What should shareholders of FSP do regarding their tax treatment?

Shareholders of Franklin Street Properties Corp. (FSP) are encouraged to consult their personal tax advisors for specific guidance on the tax treatment of their distributions.

Which regions does FSP focus on for its investments?

Franklin Street Properties Corp. (FSP) focuses on infill and central business district office properties in the U.S. Sunbelt and Mountain West regions.