Orion Office REIT Inc. Announces Tax Treatment of 2022 Dividends

Rhea-AI Summary

Orion Office REIT Inc. (NYSE: ONL) announced the income tax classification of its 2022 dividends, emphasizing the dividend payments for its common stock. Shareholders received $0.10 per share on March 31, June 30, and September 30 of 2022, with each payment classified as nondividend distributions. The dividend declared in November 2022 and paid in January 2023 is taxable in 2023, and shareholders should consult tax advisors for accurate reporting. Orion focuses on single-tenant net lease office properties across the U.S., aiming to enhance shareholder income through its diversified portfolio.

Positive

• Income of $0.10 per share distributed for three quarters in 2022 enhances shareholder returns.
• Clear tax classification of dividends provides clarity for investors.

Negative

• The upcoming tax on the November 2022 dividend may impact shareholders' cash flow in 2023.
• -

PHOENIX--(BUSINESS WIRE)-- Orion Office REIT Inc. (NYSE: ONL) (“Orion”), a real estate investment trust focused on single-tenant net lease mission-critical suburban office properties located across the U.S., announced today the income tax classification of its 2022 dividends for the Company’s common stock (NYSE: ONL) (“Common Stock”). The table below summarizes the income tax classification of the dividends paid and the corresponding box number on the 2022 Form 1099-DIV. Stockholders are encouraged to consult with their tax advisors as to their specific treatment of ONL dividends.

ONL Common Stock | CUSIP: 68629Y103

Record Date	Date Paid	Distribution per Share	Ordinary Dividends (Box 1a)	Capital Gain Distribution (Box 2a)	Nondividend Distributions (Box 3)
March 31, 2022	April 15, 2022	$0.10	$0.00	$0.00	$0.10
June 30, 2022	July 15, 2022	$0.10	$0.00	$0.00	$0.10
September 30, 2022	October 17, 2022	$0.10	$0.00	$0.00	$0.10

Stockholders should be aware that the 2022 dividend allocation does not include the Common Stock dividend declared in November 2022 and paid in January 2023. This dividend will be taxable in 2023.

About Orion Office REIT Inc.

Orion Office REIT Inc. is an internally-managed real estate investment trust engaged in the ownership, acquisition and management of a diversified portfolio of mission-critical and headquarters office buildings located in high-quality suburban markets across the U.S. and leased primarily on a single-tenant net lease basis to creditworthy tenants. The company was founded on July 1, 2021, spun-off from Realty Income (NYSE: O) on November 12, 2021 and began trading on the New York Stock Exchange on November 15, 2021. The company is headquartered in Phoenix, Arizona and has an office in New York, New York. For additional information on the company and its properties, please visit onlreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005798/en/

Investor Relations:

Email: investors@onlreit.com

Phone: 602-675-0338

Source: Orion Office REIT Inc.

FAQ

What are the dividend amounts for ONL in 2022?

Orion Office REIT paid $0.10 per share as a dividend for each quarter: March 31, June 30, and September 30, 2022.

When was the dividend for ONL declared in November 2022 paid?

The dividend declared in November 2022 was paid in January 2023.

How are ONL dividends classified for tax purposes?

The dividends paid in 2022 are classified as nondividend distributions, while the November 2022 dividend is taxable in 2023.

What is the significance of the ONL dividend for shareholders?

The dividend payments reflect Orion's commitment to returning income to shareholders, enhancing their investment value.