VICI Properties Inc. Announces Tax Treatment of 2020 Dividends

Rhea-AI Summary

VICI Properties announced the tax treatment of its 2020 common stock dividends, urging shareholders to consult tax advisors for specifics. Key details include a total cash dividend of $1.5525 per share, with dividends paid on various dates and tax implications for federal income. The record dates for dividends ranged from December 27, 2019, to December 23, 2020, reflecting standard payout intervals. Shareholders should note that the January 2021 dividend will be reported on their 2021 tax forms due to tax treatment regulations. VICI Properties operates a large portfolio of gaming and hospitality venues.

Positive

• $1.5525 total cash dividend per share for 2020.
• Dividends demonstrate company profitability and shareholder returns.

Negative

• Cash dividends exceeded earnings in 2020, raising sustainability concerns.
• Potential tax implications for shareholders regarding dividend reporting.

VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced the tax treatment of its 2020 common stock dividends. Stockholders are encouraged to consult with their tax advisors as to their specific tax treatment of VICI Properties’ dividends. The following table summarizes the Company’s common stock dividend payments for the tax year ended December 31, 2020:

2020 Dividend Tax Reporting Information (Form 1099-DIV)

		2020 Dividends						Tax Treatment of 2020 Dividends
Record Date	Payment Date	Total Cash Dividend Per Share		Adjustment		Total Dividend Allocable to 2020		Ordinary Dividend Box 1a	Section 199A Dividends (1)(2) Box 5
12/27/2019	1/9/2020	$0.2975		$0.0000	(3)	$0.2975	(3)	$0.2975	$0.2975
3/31/2020	4/9/2020	$0.2975		$0.0000		$0.2975		$0.2975	$0.2975
6/30/2020	7/10/2020	$0.2975		$0.0000		$0.2975		$0.2975	$0.2975
9/30/2020	10/8/2020	$0.3300		$0.0000		$0.3300		$0.3300	$0.3300
12/23/2020	1/7/2021	$0.3300		($0.3300)	(4)	$0.0000	(4)	$0.0000	$0.0000
		$1.5525		($0.3300)		$1.2225		$1.2225	$1.2225

(1) Treasury Regulation §1.199A-3(c)(2)(ii) requires that stockholders hold their REIT shares for at least 46 days during the 91 day period beginning on the date that is 45 days before the date on which such shares become ex-dividend with respect to such dividend in order for the dividends to be treated as Section 199A Dividends. Stockholders should consult with their tax advisors to determine whether this requirement affects any portion of the dividends included in Box 5.

(2) These amounts are included in the 2020 ordinary dividend amounts.

(3) As the Company’s aggregate 2019 cash dividends exceeded its 2019 earnings and profits, the entire January 2020 cash dividend declared in the fourth quarter of 2019 was treated as a 2020 dividend for federal income tax purposes and not included on the 2019 Form 1099-DIV. If you were a stockholder of record as of December 27, 2019, the entire January 2020 dividend of $0.2975 is reported on your 2020 Form 1099-DIV.

(4) Pursuant to IRC Section 857(b)(9), cash dividends paid on January 7, 2021 with a record date of December 23, 2020 are treated as received by stockholders on December 23, 2020 to the extent of 2020 earnings and profits. As the Company’s aggregate 2020 cash dividends exceeded its 2020 earnings and profits, the entire January 2021 cash dividend declared in the fourth quarter of 2020 was treated as a 2021 dividend for federal income tax purposes and not included on the 2020 Form 1099-DIV. If you were a stockholder of record as of December 23, 2020, the entire $0.3300 dividend will be reported on your 2021 Form 1099-DIV.

About VICI Properties

VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI Properties’ national, geographically diverse portfolio consists of 28 gaming facilities comprising 47 million square feet and features approximately 18,000 hotel rooms and more than 200 restaurants, bars, nightclubs and sportsbooks. Its properties are leased to industry leading gaming and hospitality operators, including Caesars Entertainment, Inc., Century Casinos, Inc., Hard Rock International, JACK Entertainment and Penn National Gaming, Inc. VICI Properties also has an investment in the Chelsea Piers, New York facility and owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties’ strategy is to create the nation’s highest quality and most productive experiential real estate portfolio. For additional information, please visit www.viciproperties.com.

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FAQ

What is the total cash dividend per share for VICI in 2020?

The total cash dividend per share for VICI Properties in 2020 is $1.5525.

When were the dividends issued by VICI Properties in 2020?

Dividends were issued on various dates throughout 2020, with record dates from December 27, 2019, to December 23, 2020.

How should I report VICI's dividends on my taxes?

Shareholders should consult tax advisors regarding the specific tax treatment and reporting of VICI's dividends for 2020.

What are the tax implications of VICI's dividends?

Some dividends may not be included in the 2020 Form 1099-DIV due to tax treatment regulations, affecting how they are reported.

When is the dividend payment date for VICI Properties' December 2020 dividend?

The payment date for the December 2020 dividend was January 7, 2021.