Public Storage Announces Tax Treatment of 2023 Dividends

Rhea-AI Summary

Public Storage (NYSE:PSA) announced the tax treatment of the Company’s 2023 dividends. For the tax year ended December 31, 2023, distributions for the PSA common stock and all the various series of preferred stock were classified as follows: 2023 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Ordinary Dividends 100.0000% 100.0000% 100.0000% 100.0000% Capital Gain Distributions 0.0000% 0.0000% 0.0000% 0.0000% Total 100.0000% 100.0000% 100.0000% 100.0000%. The ordinary dividends are not “qualified dividend income.” For shareholders other than corporations, the ordinary dividends are “qualified REIT dividends” in determining qualified business income. Public Storage is a REIT that primarily acquires, develops, owns, and operates self-storage facilities.

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE:PSA) announced today the tax treatment of the Company’s 2023 dividends. For the tax year ended December 31, 2023, distributions for the PSA common stock and all the various series of preferred stock were classified as follows:

		2023
		1st Quarter		2nd Quarter		3rd Quarter		4th Quarter
Ordinary Dividends		100.0000%		100.0000%		100.0000%		100.0000%
Capital Gain Distributions		0.0000%		0.0000%		0.0000%		0.0000%
Total		100.0000%		100.0000%		100.0000%		100.0000%

The ordinary dividends are not “qualified dividend income.” For shareholders other than corporations, the ordinary dividends are “qualified REIT dividends” in determining qualified business income.

This release is based on the preliminary results of work on the Company’s tax filings and is subject to correction or adjustment when the filings are completed. The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company’s distributions. No material change in the classification is expected.

If you have questions, please consult your tax advisor for further guidance.

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At September 30, 2023, we had: (i) interests in 3,028 self-storage facilities located in 40 states with approximately 217 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR), which owned 267 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard® brand. Our headquarters are located in Glendale, California.

Additional information about Public Storage is available on the Company’s website.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240117743886/en/

Ryan Burke

(818) 244-8080, Ext. 1141

Source: Public Storage

FAQ

What is the tax treatment of Public Storage's 2023 dividends?

For the tax year ended December 31, 2023, distributions for the PSA common stock and all the various series of preferred stock were classified as follows: 2023 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Ordinary Dividends 100.0000% 100.0000% 100.0000% 100.0000% Capital Gain Distributions 0.0000% 0.0000% 0.0000% 0.0000% Total 100.0000% 100.0000% 100.0000% 100.0000%. The ordinary dividends are not “qualified dividend income.” For shareholders other than corporations, the ordinary dividends are “qualified REIT dividends” in determining qualified business income.

What is Public Storage's primary business?

Public Storage is a REIT that primarily acquires, develops, owns, and operates self-storage facilities.