Getty Realty Corp. Announces 2023 Dividend Tax Treatment
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Insights
Understanding the tax implications of dividend distributions is crucial for investors. The allocation of Getty Realty Corp.'s dividend distributions between ordinary income and nondividend distributions is significant. The portion classified as ordinary income is likely subject to the investor's ordinary income tax rate, whereas the nondividend distributions might be a return of capital. This could reduce the investor's cost basis in the stock and potentially defer taxes until the stock is sold. It's imperative for shareholders to consult with a tax professional to understand their personal tax situation, especially since this allocation can affect their after-tax return on investment.
The announcement from Getty Realty Corp. regarding its dividend distributions provides insight into the company's financial health and capital allocation strategy. A steady stream of dividends can be a sign of financial stability and a commitment to returning value to shareholders. The absence of capital gains distributions suggests that the company did not realize significant capital gains from the sale of assets during the year. For income-focused investors, the predictability of these dividends is attractive and the lack of capital gains distributions could imply a focus on long-term asset appreciation over short-term gains. However, the sustainability of these dividends should be monitored, particularly in relation to the company's earnings and payout ratio.
The real estate investment trust (REIT) sector, where Getty Realty Corp. operates, typically offers dividends that are higher than the average market yield, making them a popular choice among income investors. The allocation of dividends to ordinary income and nondividend distributions is common in REITs due to their unique structure and tax treatment. Investors might compare these distributions to industry norms to assess Getty Realty's performance. If the nondividend distributions are consistently high, it could indicate that the company is returning capital rather than generating sufficient income, which might warrant further analysis of the company's revenue-generating capabilities and long-term growth prospects.
NEW YORK, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today the allocations of the Company’s 2023 dividend distributions on its common stock (CUSIP #374297109). The allocations as they will be reported on Form 1099-DIV are as follows:
| Ordinary Income | Capital Gains | ||||||||||||||||||||
Record Date | Payable Date | Total 2021 Distributions Per Share (1a + 2a + 3) | Total (Box 1a) | Total (Box 2a) | Unrecapt’d Sec 1250 (Box 2b) | Nondividend Distributions (Box 3) | |||||||||||||||
| 12/22/2022 | 1/5/2023 | $ | 0.430000 | $ | 0.312621 | $ | - | $ | - | $ | 0.117379 | ||||||||||
| 3/23/2023 | 4/6/2023 | $ | 0.430000 | $ | 0.312621 | $ | - | $ | - | $ | 0.117379 | ||||||||||
| 6/22/2023 | 7/6/2023 | $ | 0.430000 | $ | 0.312621 | $ | - | $ | - | $ | 0.117379 | ||||||||||
| 9/28/2023 | 10/12/2023 | $ | 0.430000 | $ | 0.312621 | $ | - | $ | - | $ | 0.117379 | ||||||||||
| Totals | $ | 1.720000 | $ | 1.250484 | $ | - | $ | - | $ | 0.469516 | |||||||||||
Tax Disclaimer
The information above should not be construed as tax advice and is not a substitute for careful tax planning and analysis. You should consult your own tax advisor regarding the specific federal, state, local, foreign and other tax consequences to you regarding your ownership of shares of the Company's common stock.
About Getty Realty Corp.
Getty Realty Corp. is a publicly traded, net lease REIT specializing in the acquisition, financing and development of convenience, automotive and other single tenant retail real estate. As of December 31, 2023, the Company’s portfolio included 1,093 freestanding properties located in 40 states across the United States and Washington, D.C.
| Contact: | Investor Relations | ||
| (646) 349-0598 | |||
| ir@gettyrealty.com |
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