Urstadt Biddle Properties Inc. Announces Tax Treatment For 2022 Distributions

Rhea-AI Summary

Urstadt Biddle Properties Inc. (NYSE: UBA, UBP) announced the tax treatment for its 2022 distributions. Shareholders received cash distributions from Common, Class A Common, and Preferred shares totaling $0.858, $0.95, and $1.5625 respectively. The majority of these distributions comprise non-qualifying ordinary income and Section 199A dividends, with Common shares showing 96.52% as ordinary income. The trust has maintained 212 consecutive quarters of uninterrupted dividends since inception, reflecting its long-standing commitment to shareholder returns. Shareholders are advised to consult tax advisors for specific treatment.

Positive

• Consistent dividend payments, having paid 212 consecutive quarters.
• Strong percentage of distributions classified as ordinary income, supporting cash flow.

Negative

• None.

GREENWICH, Conn.--(BUSINESS WIRE)-- Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) today announced the tax treatment of its 2022 distributions. The following tables summarize, for income tax purposes, the nature of cash distributions paid to stockholders of Urstadt Biddle Properties Inc.’s Common, Class A Common and Preferred shares during the calendar year ended December 31, 2022.

Common - CUSIP 917286106
Shown as Dollars ($)
Payment Date	Distributions Per Share		Non- Qualifying Ord. Income (1a)		Total Long-Term Capital Gain (2a)		Unrecaptured Sec. 1250 Gain (2b)		Return of Capital (3)		Section 199A Dividends (5)
1/14/22	$	0.2145	$	0.207043	$	0.00	$	0.004264	$	0.003193	$	0.207043
4/14/22	$	0.2145	$	0.207043	$	0.00	$	0.004264	$	0.003193	$	0.207043
7/15/22	$	0.2145	$	0.207043	$	0.00	$	0.004264	$	0.003193	$	0.207043
10/14/22	$	0.2145	$	0.207043	$	0.00	$	0.004264	$	0.003193	$	0.207043
TOTAL	$	0.858	$	0.828172	$	0.00	$	0.017056	$	0.012772	$	0.828172

Shown as a Percentage (%)
Payment Date	Distributions Per Share		Non- Qualifying Ord. Income (1a)		Total Long-Term Capital Gain (2a)		Unrecaptured Sec. 1250 Gain (2b)		Return of Capital (3)		Section 199A Dividends (5)
1/14/22	$	0.2145	96.5235	%	0	%	1.9879	%	1.4886	%	96.5235	%
4/14/22	$	0.2145	96.5235	%	0	%	1.9879	%	1.4886	%	96.5235	%
7/15/22	$	0.2145	96.5235	%	0	%	1.9879	%	1.4886	%	96.5235	%
10/14/22	$	0.2145	96.5235	%	0	%	1.9879	%	1.4886	%	96.5235	%
TOTAL	$	0.858	96.5235	%	0	%	1.9879	%	1.4886	%	96.5235	%

Class A Common - CUSIP 917286205
Shown as Dollars ($)
Payment Date	Distributions Per Share		Non- Qualifying Ord. Income (1a)		Total Long-Term Capital Gain (2a)		Unrecaptured Sec. 1250 Gain (2b)		Return of Capital (3)		Section 199A Dividends (5)
1/14/22	$	0.2375	$	0.229244	$	0.00	$	0.004721	$	0.003535	$	0.229244
4/14/22	$	0.2375	$	0.229244	$	0.00	$	0.004721	$	0.003535	$	0.229244
7/15/22	$	0.2375	$	0.229244	$	0.00	$	0.004721	$	0.003535	$	0.229244
10/14/22	$	0.2375	$	0.229244	$	0.00	$	0.004721	$	0.003535	$	0.229244
TOTAL	$	0.95	$	0.916976	$	0.00	$	0.018884	$	0.01414	$	0.916976

Shown as a Percentage (%)
Payment Date	Distributions Per Share		Non- Qualifying Ord. Income (1a)		Total Long-Term Capital Gain (2a)		Unrecaptured Sec. 1250 Gain (2b)		Return of Capital (3)		Section 199A Dividends (5)
1/14/22	$	0.2375	96.5238	%	0	%	1.9878	%	1.4884	%	96.5238	%
4/14/22	$	0.2375	96.5238	%	0	%	1.9878	%	1.4884	%	96.5238	%
7/15/22	$	0.2375	96.5238	%	0	%	1.9878	%	1.4884	%	96.5238	%
10/14/22	$	0.2375	96.5238	%	0	%	1.9878	%	1.4884	%	96.5238	%
TOTAL	$	0.95	96.5238	%	0	%	1.9878	%	1.4884	%	96.5238	%

6.25% Series H Cumulative Redeemable Preferred - CUSIP 917286882
Shown as Dollars ($)
Payment Date	Distributions Per Share		Non- Qualifying Ord. Income (1a)		Total Long-Term Capital Gain (2a)		Unrecaptured Sec. 1250 Gain (2b)		Return of Capital (3)		Section 199A Dividends (5)
1/31/22	$	0.390625	$	0.390625	$	0.00	$	0.00	$	0.00	$	0.390625
4/29/22	$	0.390625	$	0.390625	$	0.00	$	0.00	$	0.00	$	0.390625
7/29/22	$	0.390625	$	0.390625	$	0.00	$	0.00	$	0.00	$	0.390625
10/28/22	$	0.390625	$	0.390625	$	0.00	$	0.00	$	0.00	$	0.390625
TOTAL	$	1.5625	$	1.5625	$	0.00	$	0.00	$	0.00	$	1.5625

Shown as a Percentage (%)
Payment Date	Distributions Per Share		Non- Qualifying Ord. Income (1a)		Total Long-Term Capital Gain (2a)		Unrecaptured Sec. 1250 Gain (2b)		Return of Capital (3)		Section 199A Dividends (5)
1/31/22	$	0.390625	100	%	0	%	0	%	0	%	100	%
4/29/22	$	0.390625	100	%	0	%	0	%	0	%	100	%
7/29/22	$	0.390625	100	%	0	%	0	%	0	%	100	%
10/28/22	$	0.390625	100	%	0	%	0	%	0	%	100	%
TOTAL	$	1.5625	100	%	0	%	0	%	0	%	100	%

5.875% Series K Cumulative Redeemable Preferred - CUSIP 917286874
Shown as Dollars ($)
Payment Date	Distributions Per Share		Non- Qualifying Ord. Income (1a)		Total Long-Term Capital Gain (2a)		Unrecaptured Sec. 1250 Gain (2b)		Return of Capital (3)		Section 199A Dividends (5)
1/31/22	$	0.3672	$	0.3672	$	0.00	$	0.00	$	0.00	$	0.3672
4/29/22	$	0.3672	$	0.3672	$	0.00	$	0.00	$	0.00	$	0.3672
7/29/22	$	0.3672	$	0.3672	$	0.00	$	0.00	$	0.00	$	0.3672
10/28/22	$	0.3672	$	0.3672	$	0.00	$	0.00	$	0.00	$	0.3672
TOTAL	$	1.4688	$	1.4688	$	0.00	$	0.00	$	0.00	$	1.4688

Shown as a Percentage (%)
Payment Date	Distributions Per Share		Non- Qualifying Ord. Income (1a)		Total Long-Term Capital Gain (2a)		Unrecaptured Sec. 1250 Gain (2b)		Return of Capital (3)		Section 199A Dividends (5)
1/31/22	$	0.3672	100	%	0	%	0	%	0	%	100	%
4/29/22	$	0.3672	100	%	0	%	0	%	0	%	100	%
7/29/22	$	0.3672	100	%	0	%	0	%	0	%	100	%
10/28/22	$	0.3672	100	%	0	%	0	%	0	%	100	%
TOTAL	$	1.4688	100	%	0	%	0	%	0	%	100	%

Shareholders are encouraged to consult with their tax advisors as to the specific tax treatment of the distributions they received from the Company

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 77 properties containing approximately 5.3 million square feet of space consisting primarily of neighborhood and community shopping centers, anchored by supermarkets, pharmacy/drug-stores and wholesale clubs, located in the metropolitan tri-state area outside of the City of New York. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties. It has paid 212 consecutive quarters of uninterrupted dividends to its shareholders since its inception.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006115/en/

John T. Hayes, CFO or Willing Biddle, CEO

Urstadt Biddle Properties Inc.

203-863-8200

Source: Urstadt Biddle Properties Inc.

FAQ

What is the tax treatment of Urstadt Biddle Properties 2022 distributions?

The 2022 distributions for Urstadt Biddle Properties include substantial ordinary income and Section 199A dividends, with specific amounts and classifications outlined for Common, Class A Common, and Preferred shares.

How much did Urstadt Biddle Properties distribute in 2022?

In 2022, Urstadt Biddle Properties distributed $0.858 per Common share, $0.95 per Class A Common share, and $1.5625 per Preferred share.

What percentage of the distributions are classified as ordinary income for UBA and UBP?

For both UBA and UBP, approximately 96.52% of the distributions are classified as ordinary income.

How many consecutive dividend payments has Urstadt Biddle Properties made?

Urstadt Biddle Properties has made 212 consecutive quarters of uninterrupted dividend payments.