Hudson Pacific Properties Announces 2022 Dividend Tax Treatment

Rhea-AI Summary

Hudson Pacific Properties (NYSE: HPP) has announced the tax treatment of its 2022 dividends for both common and preferred stock. Common stock dividends of $0.25 per share were declared on five occasions during 2022, with total ordinary dividends amounting to $1.00 per share. For preferred stock, a total distribution of $1.335938 per share was reported across four distributions. All ordinary dividends are eligible for the Section 199A benefit as stipulated in the Tax Cuts and Jobs Act. These distributions aim to provide sustained returns to shareholders amidst ongoing investments in tech and media real estate.

Positive

• Total ordinary dividends for common stock of $1.00 per share, consistent across multiple payments.
• Preferred stock distributions totaling $1.335938 per share, indicating solid returns for investors.
• Eligibility of all ordinary dividends for Section 199A benefit enhances shareholder returns.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries, today announced the tax treatment for its 2022 common stock and preferred stock dividends.

The Company's dividends related to its common stock (CUSIP #444097109) will be classified for United States federal income tax purposes as follows:

						Ordinary Dividends
Record Date		Payment Date		Distribution Per Share		Total		Non-Qualified1		Qualified		Capital Gain Distributions		Return of Capital
3/21/22		3/31/22		$0.25000		$0.10717		$0.10717		$0.00000		$0.00000		$0.14283
6/20/22		6/30/22		$0.25000		$0.10717		$0.10717		$0.00000		$0.00000		$0.14283
9/19/22		9/29/22		$0.25000		$0.10717		$0.10717		$0.00000		$0.00000		$0.14283
12/19/22		12/29/22		$0.25000		$0.10717		$0.10717		$0.00000		$0.00000		$0.14283
		Totals		$1.00000		$0.42868		$0.42868		$0.00000		$0.00000		$0.57132
				100.00%		42.87%						0.00%		57.13%

The Company's dividends related to its Series C preferred stock (CUSIP #444097307) will be classified for United States federal income tax purposes as follows:

						Ordinary Dividends
Record Date		Payment Date		Distribution Per Share		Total		Non-Qualified1		Qualified		Capital Gain Distributions		Return of Capital
3/21/22		3/31/22		$0.445313		$0.445313		$0.445313		$0.00000		$0.00000		$0.00000
6/20/22		6/30/22		$0.296875		$0.296875		$0.296875		$0.00000		$0.00000		$0.00000
9/19/22		9/29/22		$0.296875		$0.296875		$0.296875		$0.00000		$0.00000		$0.00000
12/19/22		12/29/22		$0.296875		$0.296875		$0.296875		$0.00000		$0.00000		$0.00000
		Totals		$1.335938		$1.335938		$1.335938		$0.00000		$0.00000		$0.00000
				100.00%		100.00%						0.00%		0.00%

¹On December 22, 2017, the Tax Cuts and Jobs Act enacted Section 199A that generally allows a deduction for non-corporate taxpayers equal to 20% of ordinary dividends distributed by a REIT (excluding capital gain dividends and qualified dividend income). Ordinary Dividends eligible for the Section 199A benefit are a subset of, and included in, the Taxable Ordinary Dividend Amount. All the “Non-Qualified” dividends listed above are eligible for the Section 199A benefit.

About Hudson Pacific Properties
Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. For more information visit HudsonPacificProperties.com.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the company from time to time with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005345/en/

Investor Contact:

Laura Campbell

Executive Vice President, Investor Relations & Marketing

(310) 622-1702

lcampbell@hudsonppi.com



Media Contact:

Laura Murray

Senior Director, Communications

(310) 622-1781

lmurray@hudsonppi.com

Source: Hudson Pacific Properties, Inc.

FAQ

What are the dividend amounts declared by Hudson Pacific Properties for 2022?

Hudson Pacific Properties declared common stock dividends of $0.25 per share on five occasions in 2022, totaling $1.00 per share for the year.

When are Hudson Pacific Properties' dividend payments scheduled?

The dividend payment dates for 2022 common stock dividends are March 31, June 30, September 29, and December 29.

What is the tax treatment for Hudson Pacific Properties' 2022 dividends?

Hudson Pacific Properties' dividends are classified as ordinary dividends for U.S. federal income tax purposes, with all ordinary dividends eligible for the Section 199A deduction.

How much were the preferred stock dividends for Hudson Pacific Properties in 2022?

The preferred stock dividends amounted to a total of $1.335938 per share across four distributions in 2022.

Is there any benefit for investors from Hudson Pacific's dividends?

Yes, all ordinary dividends are eligible for the Section 199A benefit, which can provide a deduction for non-corporate taxpayers.