MGM Growth Properties LLC Announces Tax Treatment Of 2020 Distributions

Rhea-AI Summary

MGM Growth Properties (NYSE: MGP) announced the 2020 tax treatment for its Class A common share distributions. The total distribution per share amounted to $2.407500, with $1.920000 classified as taxable. The company provided details on distribution types and their respective amounts, including ordinary dividends and capital gain distributions. Shareholders are advised to consult tax advisors as tax treatment may vary by jurisdiction. The information released is preliminary and may be adjusted. For comprehensive tax details, refer to the IRS Form 8937 on the company's website.

Positive

• Total distribution per share for 2020 is $2.407500.
• Taxable distribution is $1.920000, offering clarity for shareholders.

Negative

• None.

LAS VEGAS, Jan. 20, 2021 /PRNewswire/ -- MGM Growth Properties LLC (NYSE: MGP) (the "Company") today announced the 2020 tax treatment of its Class A common share distributions as described below.

				2020 Tax Information - Class A Common Share
					Box 1a	Box 1b	Box 2a	Box 3	Box 5
Record Date	Payable Date	Type of Distribution	Total Distribution Per Share	Total Taxable Distribution	Ordinary Dividends	Qualified Dividends	Capital Gain Distribution	Nondividend Distributions	Section 199A Dividends	2019 Distribution	2021 Distribution
12/31/2019	1/15/2020	Cash	$0.470000	$0.470000	$0.358594	$0.000000	$0.000000	$0.111406	$0.358594	N/A	N/A
3/31/2020	4/15/2020	Cash	$0.475000	$0.475000	$0.362409	$0.000000	$0.000000	$0.112591	$0.362409	N/A	N/A
6/30/2020	7/15/2020	Cash	$0.487500	$0.487500	$0.371946	$0.000000	$0.000000	$0.115554	$0.371946	N/A	N/A
9/30/2020	10/15/2020	Cash	$0.487500	$0.487500	$0.371946	$0.000000	$0.000000	$0.115554	$0.371946	N/A	N/A
12/31/2020	1/15/2021	Cash	$0.487500	$0.000000	$0.000000	$0.000000	$0.000000	$0.000000	$0.000000	N/A	$0.487500
		TOTAL	$2.407500	$1.920000	$1.464895	$0.000000	$0.000000	$0.455105	$1.464895	$0.000000	$0.487500
Percent of Annual Total				100.00%	76.29656%	0.00000%	0.00000%	23.70344%	76.29656%

This release is based on the preliminary results of work on the Company's tax filings and may be subject to adjustment. The income tax allocation for the distributions discussed above has been calculated using the best available information as of the date of the release.  The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company's distributions.  

The Company has also posted a copy of IRS Form 8937 on the Tax Notifications section of its website, which can be accessed at http://www.mgmgrowthproperties.com/tax-notifications. 

Please note that federal tax laws affect taxpayers differently, and the information in this release is not intended as advice to shareholders on how distributions should be reported on their tax returns.  Also note that state and local taxation of real estate investment trust distributions varies and may not be the same as the taxation under the federal rules.  Shareholders are encouraged to consult with their own tax advisors as to their specific federal, state, and local income tax treatment of the Company's distributions. Taxability of the 2020 distributions is not necessarily indicative of future distributions.

About MGM Growth Properties
MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. MGP, together with its joint venture, currently owns a portfolio of properties, consisting of 12 premier destination resorts in Las Vegas and elsewhere across the United States, MGM Northfield Park in Northfield, OH, Empire Resort Casino in Yonkers, NY, as well as a retail and entertainment district, The Park in Las Vegas. As of December 31, 2019, our destination resorts, the Park, Empire Resort Casino, and MGM Northfield Park collectively comprised approximately 27,400 hotel rooms, 1.4 million casino square footage, and 2.7 million convention square footage. As a growth-oriented public real estate entity, MGP expects its relationship with MGM Resorts and other entertainment providers to attractively position MGP for the acquisition of additional properties across the entertainment, hospitality and leisure industries. For more information about MGP, visit the Company's website at http://www.mgmgrowthproperties.com.

Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the Company's public filings with the Securities and Exchange Commission.

 

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SOURCE MGM Growth Properties LLC

FAQ

What is the total distribution per share for MGP in 2020?

The total distribution per share for MGM Growth Properties in 2020 is $2.407500.

How much of MGP's 2020 distribution was taxable?

The taxable distribution for MGM Growth Properties in 2020 was $1.920000.

Where can I find the IRS Form 8937 for MGP?

The IRS Form 8937 for MGM Growth Properties can be found in the Tax Notifications section of their website.