NATIONAL RETAIL PROPERTIES, INC. ANNOUNCES 2022 DIVIDEND TAX STATUS

Rhea-AI Summary

National Retail Properties (NYSE:NNN) announced that 99.8301% of the dividends paid to common shareholders in 2022 are taxable distributions. The total dividend per share for 2022 was $2.16, marking the thirty-third consecutive annual increase. Of the total dividends, 99.8301% are classified as ordinary dividends, while only 0.1699% are non-taxable. The dividends are also eligible for a 20% qualified business income deduction under Section 199A. As of September 30, 2022, NNN owned 3,349 properties across 48 states, covering approximately 34.3 million square feet, with a weighted average remaining lease term of 10.4 years.

Positive

• 33rd consecutive annual dividend increase of $2.16 per share
• 99.8301% of dividends classified as taxable distributions
• Strong portfolio with 3,349 properties and a weighted average lease term of 10.4 years

Negative

• None.

ORLANDO, Fla., Jan. 13, 2023 /PRNewswire/ -- National Retail Properties, Inc. (NYSE:NNN), a real estate investment trust, announced today that 99.8301% of the dividends paid to common shareholders in 2022 are classified for federal income tax purposes as a taxable distribution.  The tax attributes of the dividends paid per share are outlined below.

 

Total Dividend	Ordinary Dividends (Box 1a)	Non-taxable Distributions (Box 3)			Section 199A Dividends (1) (Box 5)
Common Stock (CUSIP: 637417106)
100.0000 %	99.8301 %	0.1699 %			99.8301 %
$2.160000	$2.156330	$0.003670			$2.156330

(1)	Dividends eligible for the 20% qualified business income deduction under Section 199A and included in box 1a, Ordinary Dividends.

 

"The common dividend of $2.16 per share paid in 2022 marked the thirty-third consecutive annual dividend increase for National Retail Properties," said Kevin Habicht, Chief Financial Officer.  "This consistent dividend, in good times and challenging times, has been an important part of the company's total return to shareholders."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of September 30, 2022, the company owned 3,349 properties in 48 states with a gross leasable area of approximately 34.3 million square feet and with a weighted average remaining lease term of 10.4 years. For more information on the company, visit www.nnnreit.com.

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SOURCE National Retail Properties, Inc.

FAQ

What is the dividend amount for National Retail Properties for 2022?

The dividend amount for 2022 is $2.16 per share.

What percentage of dividends are taxable for NNN in 2022?

99.8301% of the dividends are classified as taxable distributions.

How many properties does National Retail Properties own?

National Retail Properties owns 3,349 properties across 48 states.

What is the significance of the 20% qualified business income deduction for NNN's dividends?

Dividends eligible for the 20% deduction under Section 199A benefit shareholders by potentially reducing their taxable income.