National Storage Affiliates Trust Announces Tax Treatment of 2022 Distributions

Rhea-AI Summary

National Storage Affiliates Trust (NSA) announced the tax treatment of its 2022 distributions for common and preferred shareholders. For common shares, a total of $2.15 per share was reported, with ordinary dividends of $1.767988 and non-dividend distributions of $0.382012. Preferred shareholders received total distributions of $1.50 per share, all classified as ordinary dividends. The ordinary dividends qualify as "qualified REIT dividends" under Internal Revenue Code section 199A. NSA advises shareholders to consult tax advisors for inquiries related to the distributions.

Positive

• Total distribution for common shares was $2.15 per share.
• Qualified REIT dividends may provide tax benefits.

Negative

• None.

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- National Storage Affiliates Trust (“NSA” or the “Company”) (NYSE: NSA) today announced the tax treatment of its 2022 distributions on its Common Shares of Beneficial Interest (CUSIP Number 637870106) and its 6.000% Series A Cumulative Redeemable Preferred Shares (CUSIP Number 637870205).

For the tax year ended December 31, 2022, distributions to NSA’s common shareholders are classified on Form 1099-DIV as follows:

Declaration Date	Record Date	Payment Date	Total Distribution Per Share	Ordinary Dividends Per Share (Box 1a)	Non-dividend Distributions Per Share (Box 3)
2/24/2022	3/15/2022	3/31/2022	$ 0.50	0.411160	0.088840
5/25/2022	6/15/2022	6/30/2022	$ 0.55	0.452276	0.097724
8/25/2022	9/15/2022	9/30/2022	$ 0.55	0.452276	0.097724
11/9/2022	12/15/2022	12/30/2022	$ 0.55	0.452276	0.097724
Totals for 2022			$ 2.15	$ 1.767988	$ 0.382012

For the tax year ended December 31, 2022, distributions to NSA’s preferred shareholders are classified on Form 1099-DIV as follows:

Declaration Date	Record Date	Payment Date	Total Distribution Per Share	Ordinary Dividends Per Share (Box 1a)	Non-dividend Distributions Per Share (Box 3)
2/24/2022	3/15/2022	3/31/2022	$ 0.375	$ 0.375	$ 0.00
5/25/2022	6/15/2022	6/30/2022	$ 0.375	$ 0.375	$ 0.00
8/25/2022	9/15/2022	9/30/2022	$ 0.375	$ 0.375	$ 0.00
11/9/2022	12/15/2022	12/30/2022	$ 0.375	$ 0.375	$ 0.00
Totals for 2022			$ 1.50	$ 1.50	$ 0.00

The ordinary dividends in the tables above are “qualified REIT dividends” for purposes of Internal Revenue Code section 199A, reported in Box 5 of Form 1099-DIV.

NSA recommends its shareholders consult their individual tax advisors should there be any related questions regarding the above tables.

Upcoming Industry Conference

NSA management is scheduled to participate in Citi’s 2023 Global Property CEO Conference on March 6 – 8, 2023 in Hollywood, Florida.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of September 30, 2022, the Company held ownership interests in and operated 1,100 self storage properties located in 42 states and Puerto Rico with approximately 71.5 million rentable square feet. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States. For more information, please visit the Company’s website at www.nationalstorageaffiliates.com. NSA is included in the MSCI US REIT Index (RMS/RMZ), the Russell 1000 Index of Companies and the S&P MidCap 400 Index.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005791/en/

National Storage Affiliates Trust

Investor/Media Relations

George Hoglund, CFA

Vice President - Investor Relations

720.630.2160

ghoglund@nsareit.net

Source: National Storage Affiliates Trust

FAQ

What were the 2022 total distributions per share for National Storage Affiliates Trust (NSA)?

Total distributions for common shares were $2.15 and for preferred shares were $1.50.

How are the 2022 distributions classified for NSA's common shareholders?

For 2022, NSA's common shareholder distributions included $1.767988 as ordinary dividends and $0.382012 as non-dividend distributions.

What is the tax treatment for NSA's preferred shareholders in 2022?

NSA's preferred shareholders received total distributions of $1.50 per share classified as ordinary dividends.

When did NSA announce its 2022 distribution tax treatment?

NSA announced the tax treatment for its 2022 distributions on January 25, 2023.

Are NSA's ordinary dividends qualified REIT dividends?

Yes, the ordinary dividends are classified as "qualified REIT dividends" under the Internal Revenue Code section 199A.