SAN FRANCISCO, Jan. 26, 2018 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD), the global leader in logistics real estate, today
announced the tax treatment of its 2017 distributions. While the
distributions generally resulted in approximately 70% ordinary
income and 30% capital gains, exhibits A and B reflect the tax
treatment of distributions as prescribed by the Internal Revenue
Code on Prologis, Inc. common and preferred stock,
respectively.
Persons who held shares of common stock of Prologis, Inc. in
their name at any time during 2017 will receive an IRS Form
1099-DIV via Computershare, Prologis' transfer agent. Persons who
held shares in "street name" during 2017 should note that the IRS
form provided by a bank, brokerage firm or nominee may report only
gross distributions. Therefore, the information herein may be
needed to properly complete a federal tax return.
This information has been prepared using the best available
information to date. Prologis, Inc.'s federal income tax return for
the year ended December 31, 2017 has
not yet been filed. Please note that federal tax laws affect
taxpayers differently, and we cannot advise on how distributions
should be reported. Please also note that state and local taxation
of REIT distributions may differ from federal rules. Prologis, Inc.
recommends a consultation with a tax advisor regarding the federal,
state and local income tax consequences of these distributions.
ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate
with a focus on high-barrier, high-growth markets. As of
December 31, 2017, the company owned
or had investments in, on a wholly owned basis or through
co-investment ventures, properties and development projects
expected to total approximately 684 million square feet (64 million
square meters) in 19 countries. Prologis leases modern distribution
facilities to a diverse base of approximately 5,000 customers
across two major categories: business-to-business and retail/online
fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts
are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on current expectations, estimates and
projections about the industry and markets in which Prologis
operates, management's beliefs and assumptions made by
management. Such statements involve uncertainties that could
significantly impact Prologis' financial results. Words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates," variations of such words and similar expressions are
intended to identify such forward-looking statements, which
generally are not historical in nature. All statements that
address operating performance, events or developments that we
expect or anticipate will occur in the future — including
statements relating to rent and occupancy growth, development
activity and changes in sales or contribution volume of properties,
disposition activity, general conditions in the geographic areas
where we operate, our debt and financial position, our ability to
form new co-investment ventures and the availability of capital in
existing or new co-investment ventures — are forward-looking
statements. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. Some of the factors that may
affect outcomes and results include, but are not limited to: (i)
national, international, regional and local economic climates, (ii)
changes in financial markets, interest rates and foreign currency
exchange rates, (iii) increased or unanticipated competition for
our properties, (iv) risks associated with acquisitions,
dispositions and development of properties, (v) maintenance of real
estate investment trust ("REIT") status and tax structuring, (vi)
availability of financing and capital, the levels of debt that we
maintain and our credit ratings, (vii) risks related to our
investments in our co-investment ventures and funds, including our
ability to establish new co-investment ventures and funds, (viii)
risks of doing business internationally, including currency risks,
(ix) environmental uncertainties, including risks of natural
disasters, and (x) those additional factors discussed in reports
filed with the Securities and Exchange Commission by Prologis under
the heading "Risk Factors." Prologis undertakes no duty to update
any forward-looking statements appearing in this document.
Exhibit
A
|
Tax Treatment of
2017 Common Distributions
|
|
Prologis,
Inc.
|
Common
Stock
|
CUSIP #
74340W103
|
Ticker Symbol:
PLD
|
|
Record
Dates
|
Payable
Dates
|
Cash
Distribution
($ per
share)
|
Ordinary
Taxable
Dividend
($ per
share)
|
Qualified
Taxable
Dividend
($ per
share)
|
Long-Term
Capital Gain
($ per
share)
|
Unrecaptured
Section 1250 Gain
($ per
share)(1)
|
3/15/17
|
3/31/17
|
0.440000
|
0.295013
|
0.011869
|
0.074232
|
0.058886
|
6/14/17
|
6/30/17
|
0.440000
|
0.311040
|
0.000000
|
0.092283
|
0.036677
|
9/18/17
|
9/29/17
|
0.440000
|
0.311040
|
0.000000
|
0.092283
|
0.036677
|
12/18/17
|
12/29/17
|
0.440000
|
0.311040
|
0.000000
|
0.092283
|
0.036677
|
|
|
(1)
|
Corporate
shareholders may be subject to IRC §291(a) reduction in certain
corporate preference items.
|
Exhibit
B
|
Tax Treatment of
2017 Preferred Distributions
|
|
Prologis,
Inc.
|
Series Q Cumulative
Redeemable Preferred Stock
|
CUSIP #
74340W202
|
Ticker Symbol:
PLDGP
|
|
Record
Dates
|
Payable
Dates
|
Cash
Distribution
($ per
share)
|
Ordinary
Taxable
Dividend
($ per
share)
|
Qualified
Taxable
Dividend
($ per
share)
|
Long-Term
Capital Gain
($ per
share)
|
Unrecaptured
Section 1250 Gain
($ per
share)(1)
|
3/17/17
|
3/31/17
|
1.067500
|
0.651291
|
0.076526
|
0.107505
|
0.232178
|
6/19/17
|
6/30/17
|
1.067500
|
0.754627
|
0.000000
|
0.223891
|
0.088982
|
9/18/17
|
10/2/17
|
1.067500
|
0.754627
|
0.000000
|
0.223891
|
0.088982
|
12/18/17
|
1/2/18
|
1.067500
|
0.754627
|
0.000000
|
0.223891
|
0.088982
|
|
|
(1)
|
Corporate
shareholders may be subject to IRC §291(a) reduction in certain
corporate preference items.
|
View original content with
multimedia:http://www.prnewswire.com/news-releases/prologis-announces-tax-treatment-of-2017-distributions-300589026.html
SOURCE Prologis, Inc.