iStar Announces Tax Treatment of 2022 Dividends

Rhea-AI Summary

iStar (NYSE: STAR) announced that all dividends paid in 2022 will be classified as capital gain distributions under Internal Revenue Code section 857(b)(3)(B). These distributions arise from long-term capital gains from the sale of shares in controlled real estate investment trusts. Notably, the total dividend distribution per share includes $2.5911225 in capital gain distributions. The record dates for dividends were March 1, June 1, September 1, and December 1, with corresponding payment dates on March 15, June 15, September 15, and December 15, 2022.

Positive

• Total dividend distribution per share of $2.5911225 enhances shareholder income.
• All dividends classified as capital gain distributions may provide favorable tax treatment for investors.

Negative

• None.

NEW YORK, Jan. 12, 2023 /PRNewswire/ -- iStar (NYSE: STAR) announced today the tax treatment of its 2022 common and preferred stock dividends.

iStar is designating all dividends paid in 2022 as Capital Gain Distributions pursuant to Internal Revenue Code section 857(b)(3)(B). The entire capital gain distribution was paid from long-term capital gains from the sales of shares in domestically controlled real estate investment trusts. Accordingly, none constitutes Unrecaptured Section 1250 gain or Section 897 gain.

iStar Common Stock

NYSE: STAR
CUSIP: 45031U-101

Record Date	Payment Date		Distribution per Share	Ordinary Income	Capital Gain Distribution	Treas. Reg. § 1.1061-6(c) One-Year Amount	Treas. Reg. § 1.1061-6(c) Three-Year Amount
03/01/22	03/15/22		$0.1250000	$0.0000000	$0.1250000	$0.1250000	$0.1250000
06/01/22	06/15/22		0.1250000	0.0000000	0.1250000	0.1250000	0.1250000
09/01/22	09/15/22		0.1250000	0.0000000	0.1250000	0.1250000	0.1250000
12/01/22	12/07/22		2.2161225	0.0000000	2.2161225	2.2161225	2.2161225
			$2.5911225	$0.0000000	$2.5911225	$2.5911225	$2.5911225

8.00% Series D Preferred Stock  |  Liquidation Preference: $25.00

NYSE: STAR prD
CUSIP: 45031U-408

Record Date	Payment Date		Distribution per Share	Ordinary Income	Capital Gain Distribution	Treas. Reg. § 1.1061-6(c) One-Year Amount	Treas. Reg. § 1.1061-6(c) Three-Year Amount
03/01/22	03/15/22		$0.5000	$0.0000	$0.5000	$0.5000	$0.5000
06/01/22	06/15/22		0.5000	0.0000	0.5000	0.5000	0.5000
09/01/22	09/15/22		0.5000	0.0000	0.5000	0.5000	0.5000
12/01/22	12/15/22		0.5000	0.0000	0.5000	0.5000	0.5000
			$2.0000	$0.0000	$2.0000	$2.0000	$2.0000

7.65% Series G Preferred Stock  |  Liquidation Preference: $25.00

NYSE: STAR prG
CUSIP: 45031U-705

Record Date	Payment Date		Distribution per Share	Ordinary Income	Capital Gain Distribution	Treas. Reg. § 1.1061-6(c) One-Year Amount	Treas. Reg. § 1.1061-6(c) Three-Year Amount
03/01/22	03/15/22		$0.478125	$0.000000	$0.478125	$0.478125	$0.478125
06/01/22	06/15/22		0.478125	0.000000	0.478125	0.478125	0.478125
09/01/22	09/15/22		0.478125	0.000000	0.478125	0.478125	0.478125
12/01/22	12/15/22		0.478125	0.000000	0.478125	0.478125	0.478125
			$1.912500	$0.000000	$1.912500	$1.912500	$1.912500

7.50% Series I Preferred Stock  |  Liquidation Preference: $25.00

NYSE: STAR prI
CUSIP: 45031U-804

Record Date	Payment Date		Distribution per Share	Ordinary Income	Capital Gain Distribution	Treas. Reg. § 1.1061-6(c) One-Year Amount	Treas. Reg. § 1.1061-6(c) Three-Year Amount
03/01/22	03/15/22		$0.46875	$0.00000	$0.46875	$0.46875	$0.46875
06/01/22	06/15/22		0.46875	0.00000	0.46875	0.46875	0.46875
09/01/22	09/15/22		0.46875	0.00000	0.46875	0.46875	0.46875
12/01/22	12/15/22		0.46875	0.00000	0.46875	0.46875	0.46875
			$1.87500	$0.00000	$1.87500	$1.87500	$1.87500

*           *           *

iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on institutional quality properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the creator of the modern ground lease industry, iStar is using its national investment platform and its historic strengths in finance and net lease to expand the use of modern ground leases within the $7 trillion institutional commercial real estate market. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades. Additional information on iStar is available on its website at www.istar.com.

Company Contact: 
Jason Fooks
Senior Vice President
Investor Relations & Marketing
T 212.930.9400
E investors@istar.com 

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SOURCE iStar Inc.

FAQ

What is the total dividend distribution per share for iStar in 2022?

The total dividend distribution per share for iStar in 2022 is $2.5911225.

What are the payment dates for iStar's 2022 dividends?

The payment dates for iStar's 2022 dividends were March 15, June 15, September 15, and December 15.

How are the dividends paid by iStar classified for 2022?

All dividends paid by iStar in 2022 are classified as capital gain distributions.

What is the significance of capital gain distributions?

Capital gain distributions may provide more favorable tax treatment for shareholders compared to ordinary income distributions.

When was the press release about iStar's dividends issued?

The press release regarding iStar's dividends was issued on January 12, 2023.