Washington Prime Group Announces Tax Reporting Information for 2020 Distributions

Rhea-AI Summary

Washington Prime Group Inc. (WPG) has released its 2020 tax reporting information related to distributions for its common and preferred shares. The common stock distribution totals $0.125 per share, while the Series H and Series I preferred shares have total distributions of $1.8752 and $1.7188 per share, respectively. The press release serves as the written notice required under the Internal Revenue Code, indicating that specified amounts are categorized as Capital Gains Dividends. Investors are advised to consult tax advisors regarding additional disclosures related to capital gain dividends.

Positive

• Common stock distribution of $0.125 per share.
• Series H preferred shares distribution total of $1.8752 per share.
• Series I preferred shares distribution total of $1.7188 per share.

Negative

• None.

Washington Prime Group Inc. (NYSE: WPG) today announced the 2020 tax reporting information (Federal Form 1099) for distributions as shown below. The distributions relate to its common shares, Series H Cumulative Redeemable Preferred Shares of Beneficial Interest and Series I Cumulative Redeemable Preferred Shares of Beneficial Interest.

Amounts reported to Dividend Reinvestment and Stock Purchase Plan participants will differ due to administrative costs. Participants should refer to their Form 1099 which will be mailed no later than January 31, 2021. The taxability of the 2020 common stock distributions and the 2020 preferred stock distributions are not indicative of the taxability of future distributions.

Common Stock - Ticker Symbol: WPG

Record Date	Payable Date	Type of Distribution	CUSIP Number	Total Distribution Per Share	Ordinary Dividends	L-T Capital Gains	Unrecap. 1250 Gain	Non-Dividend Distributions	Liquidated Distributions	Section 199A Dividends
03/09/2020	03/16/2020	Cash	93964W108	$0.125000	$0.125000	$0.000000	$0.000000	$0.000000	$0.000000	$0.125000
			TOTAL	$0.125000	$0.125000	$0.000000	$0.000000	$0.000000	$0.000000	$0.125000

Preferred Stock - 7.5% Series H Preferred Shares - Ticker Symbol: WPG-H

Record Date	Payable Date	Type of Distribution	CUSIP Number	Total Distribution Per Share	Ordinary Dividends	L-T Capital Gains	Unrecap. 1250 Gain	Non-Dividend Distributions	Liquidated Distributions	Section 199A Dividends
03/30/2020	04/15/2020	Cash	93964W207	$0.468800	$0.468800	$0.000000	$0.000000	$0.000000	$0.000000	$0.468800
06/29/2020	07/15/2020	Cash	93964W207	$0.468800	$0.468800	$0.000000	$0.000000	$0.000000	$0.000000	$0.468800
09/28/2020	10/15/2020	Cash	93964W207	$0.468800	$0.468800	$0.000000	$0.000000	$0.000000	$0.000000	$0.468800
12/28/2020	01/15/2021	Cash	93964W207	$0.468800	$0.468800	$0.000000	$0.000000	$0.000000	$0.000000	$0.468800
			TOTAL	$1.875200	$1.875200	$0.000000	$0.000000	$0.000000	$0.000000	$1.875200

Preferred Stock - 6.875% Series I Preferred Shares - Ticker Symbol: WPG-I

Record Date	Payable Date	Type of Distribution	CUSIP Number	Total Distribution Per Share	Ordinary Dividends	L-T Capital Gains	Unrecap. 1250 Gain	Non-Dividend Distributions	Liquidated Distributions	Section 199A Dividends
03/30/2020	04/15/2020	Cash	93964W306	$0.429700	$0.429700	$0.000000	$0.000000	$0.000000	$0.000000	$0.429700
06/29/2020	07/15/2020	Cash	93964W306	$0.429700	$0.429700	$0.000000	$0.000000	$0.000000	$0.000000	$0.429700
09/28/2020	10/15/2020	Cash	93964W306	$0.429700	$0.429700	$0.000000	$0.000000	$0.000000	$0.000000	$0.429700
12/28/2020	01/15/2021	Cash	93964W306	$0.429700	$0.429700	$0.000000	$0.000000	$0.000000	$0.000000	$0.429700
			TOTAL	$1.718800	$1.718800	$0.000000	$0.000000	$0.000000	$0.000000	$1.718800

This press release is intended to serve as the written notice required by the Internal Revenue Code that the amounts in the “L-T Capital Gains” columns above are designated as Capital Gains Dividends.

Pursuant to Treas. Reg. § 1.1061-6(c), Washington Prime Group Inc. is disclosing below two additional amounts related to the capital gain dividends reported in Form 1099 DIV Box 2a, Total Capital Gain Distr. for purposes of Section 1061 of the Internal Revenue Code:

• One Year Amounts Disclosure: $0
• Three Year Amounts Disclosure: $0

Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests”, and investors should contact a tax advisor with respect to the two additional amounts disclosed herein.

About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S. Washington Prime Group® is a registered trademark of the Company. Learn more at www.washingtonprime.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210125005883/en/

FAQ

What is the 2020 distribution amount for Washington Prime Group's common stock (WPG)?

The total distribution amount for Washington Prime Group's common stock in 2020 is $0.125 per share.

What were the distribution amounts for Series H preferred shares (WPG-H) in 2020?

The total distribution amount for Series H preferred shares in 2020 is $1.8752 per share.

What were the distribution amounts for Series I preferred shares (WPG-I) in 2020?

The total distribution amount for Series I preferred shares in 2020 is $1.7188 per share.

How does the taxability of the 2020 distributions for WPG compare to future distributions?

The taxability of the 2020 distributions is not indicative of the taxability of future distributions.