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Veris Residential Announces Tax Treatment of 2023 Distributions

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Veris Residential, Inc. (VRE) has announced the tax treatment of its 2023 Distributions, with a total distribution of $0.05 per share of common stock. The distribution is to be classified for income tax purposes as cash distributions, with $0.05 as unrecaptured section 1250 gain. Shareholders are advised to consult with their tax advisors for specific tax treatment.
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JERSEY CITY, N.J., Jan. 22, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) ("Veris Residential" or the "Company"), a forward-thinking, environmentally and socially conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, today announced the tax treatment of its 2023 Distributions. The Company's total distribution of $0.05 per share of common stock (CUSIP #554489104) is to be classified for income tax purposes as follows:

RECORD

PAYMENT

CASH DISTRIBUTIONS

TAXABLE

TOTAL

UNRECAPTURED

SECTION

RETURN OF CAPITAL

DATE

DATE

PER SHARE

ORDINARY DIVIDENDS

CAPITAL GAIN

SECTION 1250 GAIN

199A DIVIDENDS

DISTRIBUTIONS

9/30/2023

10/10/2023

$                            0.05

$                                  -

$                    -

$                              -

$                        -

$                  0.05









TOTALS


$                            0.05

$                                  -

$                    -

$                              -

$                        -

$                  0.05









Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of Veris Residential, Inc. distributions.

About Veris Residential, Inc.

Veris Residential, Inc. is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit https://verisresidential.com

Investors
Anna Malhari
Chief Operating Officer
investors@verisresidential.com

Media 
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
212-257-4170

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/veris-residential-announces-tax-treatment-of-2023-distributions-302040209.html

SOURCE Veris Residential, Inc.

FAQ

What is the total distribution per share of common stock for Veris Residential, Inc. (VRE)?

The total distribution per share of common stock for Veris Residential, Inc. (VRE) is $0.05.

How are the distributions classified for income tax purposes?

The distributions are classified as cash distributions, with $0.05 as unrecaptured section 1250 gain for income tax purposes.

When were the record and payment dates for the distributions?

The record date was 9/30/2023 and the payment date was 10/10/2023 for the distributions.

What is the advice for shareholders regarding the tax treatment of the distributions?

Shareholders are advised to consult with their tax advisors for specific tax treatment of Veris Residential, Inc. distributions.

Veris Residential, Inc.

NYSE:VRE

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REIT - Residential
Real Estate Investment Trusts
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United States of America
JERSEY CITY