Prologis Announces Tax Treatment of 2024 Dividends

Rhea-AI Summary

Prologis (NYSE: PLD) has released its tax treatment details for 2024 dividends. For common shares, the company distributed $0.96 per share quarterly, with each payment comprising primarily ordinary taxable income, along with smaller portions of qualified dividends and capital gains. The preferred shares (Series Q) received $1.0675 per share quarterly.

Shareholders who held PLD stock directly will receive IRS Form 1099-DIV through Computershare, while street name holders will get it from their brokers. The company notes that its 2024 federal income tax return hasn't been filed yet, and recommends consulting tax advisors regarding the federal, state, and local tax implications of these distributions.

Positive

• Consistent quarterly dividend payments of $0.96 per common share throughout 2024
• Stable preferred share dividends of $1.0675 per quarter
• High proportion of dividends qualify as Section 199A dividends

Negative

• None.

SAN FRANCISCO, Jan. 27, 2025 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today announced the tax treatment of its 2024 distributions. Exhibits A and B reflect the tax treatment of distributions per share of Prologis, Inc. common and preferred stock, respectively, as prescribed by the Internal Revenue Code. 

Persons who held shares of common stock of Prologis, Inc. in their name at any time during 2024 will receive an IRS Form 1099-DIV via Computershare, Prologis' transfer agent. Persons who held shares in "street name" during 2024 should note that the Form 1099-DIV will be provided by a bank, brokerage firm or nominee.  Additional information herein may be needed to properly complete a federal tax return.

This information has been prepared using the best available information to date. Prologis, Inc.'s federal income tax return for the year ended December 31, 2024, has not yet been filed. Please note that federal tax laws affect taxpayers differently, and we cannot advise on how distributions should be reported. Please also note that state and local taxation of REIT distributions may differ from federal rules. Prologis, Inc. recommends consultation with a tax advisor regarding the federal, state, and local income tax consequences of these distributions.

Exhibit A
Tax Treatment of 2024 Common Dividends
Prologis, Inc. Common Shares CUSIP # 74340W103 Ticker Symbol: PLD
Record Date	Payable Date	Cash Distribution	Ordinary Taxable Income (1)	Qualified Taxable Dividend (1)	Long-Term Capital Gain (2)	Unrecaptured Section 1250 Gain (2)	Section 199A Dividends	Section 1061 One Year Amounts Disclosure (3)	Section 1061 Three Year Amounts Disclosure (3)	Section 897 Capital Gain
3/18/2024	3/29/2024	0.960000	0.878226	0.007024	0.048263	0.026487	0.878226	0.025104	0.025104	0.071530
6/17/2024	6/28/2024	0.960000	0.874063	0.001429	0.060540	0.023968	0.874063	0.004882	0.004882	0.082536
9/16/2024	9/30/2024	0.960000	0.874063	0.001429	0.060540	0.023968	0.874063	0.004882	0.004882	0.082536
12/16/2024	12/31/2024	0.960000	0.874063	0.001429	0.060540	0.023968	0.874063	0.004882	0.004882	0.082536

(1)	The sum of these amounts will be reported in Box 1a of Form 1099-DIV as Total Ordinary Dividends.
(2)	The sum of these amounts will be reported in Box 2a of Form 1099-DIV as Total Capital Gain Distributions.
(3)	For purposes of section 1061 of the Internal Revenue Code, Prologis, Inc. is disclosing two additional amounts related to the capital gain distribution. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests."

 

Exhibit B
Tax Treatment of 2024 Preferred Dividends
Prologis, Inc. Series Q Cumulative Redeemable Preferred Shares CUSIP # 74340W202 Ticker Symbol: PLDGP
Record Date	Payable Date	Cash Distribution	Ordinary Taxable Income (1)	Qualified Taxable Dividend (1)	Long-Term Capital Gain (2)	Unrecaptured Section 1250 Gain (2)	Section 199A Dividends	Section 1061 One Year Amounts Disclosure (3)	Section 1061 Three Year Amounts Disclosure (3)	Section 897 Capital Gain
3/18/2024	4/1/2024	1.067500	0.982170	0.015339	0.037149	0.032842	0.982170	0.055125	0.055125	0.064730
6/17/2024	7/1/2024	1.067500	0.971939	0.001589	0.067320	0.026652	0.971939	0.005429	0.005429	0.091779
9/16/2024	9/30/2024	1.067500	0.971939	0.001589	0.067320	0.026652	0.971939	0.005429	0.005429	0.091779
12/16/2024	12/31/2024	1.067500	0.971939	0.001589	0.067320	0.026652	0.971939	0.005429	0.005429	0.091779

(1)	The sum of these amounts will be reported in Box 1a of Form 1099-DIV as Total Ordinary Dividends.
(2)	The sum of these amounts will be reported in Box 2a of Form 1099-DIV as Total Capital Gain Distributions.
(3)	For purposes of section 1061 of the Internal Revenue Code, Prologis, Inc. is disclosing two additional amounts related to the capital gain distribution. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests."

 

ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.3 billion square feet (120 million square meters) in 20 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,500 customers principally across two major categories: business-to-business and retail/online fulfillment.

FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.

 

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SOURCE Prologis, Inc.

FAQ

What is the quarterly dividend amount for Prologis (PLD) common shares in 2024?

Prologis paid $0.96 per common share as quarterly dividends in 2024, distributed in March, June, September, and December.

How much of PLD's 2024 dividend is classified as ordinary taxable income?

Approximately 91% of each quarterly dividend payment is classified as ordinary taxable income, averaging about $0.87 per share per quarter.

What is the dividend amount for Prologis Series Q preferred shares in 2024?

Prologis Series Q preferred shares received quarterly dividends of $1.0675 per share in 2024.

How will Prologis shareholders receive their tax documentation for 2024 dividends?

Direct shareholders will receive IRS Form 1099-DIV from Computershare, while street name holders will receive it from their bank or brokerage firm.

What percentage of PLD's 2024 dividends qualify for Section 199A treatment?

The majority of each quarterly dividend qualifies as Section 199A dividends, with approximately $0.87 per share for common stock qualifying each quarter.