COPT Announces Tax Treatment of 2020 Distributions
Corporate Office Properties Trust (COPT) announced the tax treatment for its Common share distributions for 2020. Shareholders should consult their tax advisors regarding individual tax implications. The distributions, dated December 31, 2020, and paid on January 15, 2021, are considered allocable to 2020. The distribution per share was $0.2750, with a total distribution allocable to 2020 also amounting to $0.2750. Key tax categories include $0.1241 in taxable ordinary dividends and $0.1509 in capital gain distribution. COPT focuses on office and data center properties, primarily serving national security and IT sectors.
- COPT maintains a high occupancy rate of 94.6% for its core portfolio.
- 88% of COPT’s rental revenue is derived from Defense/IT Locations, indicating strong demand.
- None.
Corporate Office Properties Trust (“COPT” or the Company) (NYSE: OFC) announced the 2020 tax treatment of its Common share distributions as described below. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of COPT Common share distributions.
Please note, the Common share distributions with a record date of December 31, 2020, and payment date of January 15, 2021, are allocable to 2020 for income tax purposes.
The table below summarizes the income tax treatment of 2020 distributions.
| Common Shares (CUSIP #22002T108) | |||||||||||||
| Record Date | Payment Date | Total Distribution per Share |
Total Distribution Allocable to 2020 |
2020 Taxable Ordinary Dividends |
2020 Total Capital Gain Distribution (1) |
2020 Unrecaptured Section 1250 Gain (2) |
2020 Section 199A Dividend (3) |
||||||
| 03/31/2020 | 04/15/2020 | $ |
0.2750 |
$ |
0.2750 |
$ |
0.1241 |
$ |
0.1509 |
$ |
0.0212 |
$ |
0.1241 |
| 06/30/2020 | 07/15/2020 | $ |
0.2750 |
$ |
0.2750 |
$ |
0.1241 |
$ |
0.1509 |
$ |
0.0212 |
$ |
0.1241 |
| 09/30/2020 | 10/15/2020 | $ |
0.2750 |
$ |
0.2750 |
$ |
0.1241 |
$ |
0.1509 |
$ |
0.0212 |
$ |
0.1241 |
| 12/31/2020 | 01/15/2021 | $ |
0.2750 |
$ |
0.2750 |
$ |
0.1241 |
$ |
0.1509 |
$ |
0.0212 |
$ |
0.1241 |
$ |
1.1000 |
$ |
1.1000 |
$ |
0.4964 |
$ |
0.6036 |
$ |
0.0848 |
$ |
0.4964 |
||
| (1) Section 1061 "One Year Amounts" and "Three Year Amounts" required to be disclosed are both zero for the 2020 distributions, since all capital gains are Section 1231 gains. |
|||||||||||||
| (2) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2020 Total Capital Gain Distribution Amount. | |||||||||||||
| (3) Section 199A Dividend is a subset of, and is included in, the Taxable Ordinary Dividend Amount. | |||||||||||||
About COPT
COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing what it believes are growing, durable, priority missions (“Defense/IT Locations”). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of September 30, 2020, the Company derived
Forward-Looking Information
This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations, estimates and projections reflected in such forward-looking statements are based on reasonable assumptions at the time made, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements and the Company undertakes no obligation to update or supplement any forward-looking statements.
The areas of risk that may affect these expectations, estimates and projections include, but are not limited to, those risks described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent Quarterly Reports on Form 10-Q.
Category: Tax Treatment
Source: Corporate Office Properties Trust
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FAQ
What are the tax implications for COPT OFC shareholders for 2020 distributions?
When was the record date for COPT OFC's 2020 distributions?
What was the payment date for the COPT OFC 2020 distributions?
How much was COPT OFC's total distribution per share in 2020?
What percentage of COPT OFC's revenue comes from Defense/IT Locations?
