CHICAGO, Jan. 24, 2017 /PRNewswire/ -- First
Industrial Realty Trust, Inc. (NYSE: FR), a leading owner, operator
and developer of industrial real estate, today reported the tax
treatment of its 2016 distributions.
For tax purposes, 83% percent of the Company's 2016 common stock
distributions represented ordinary dividends, 14% were classified
as capital gain distributions, and 3% were classified as return of
capital (nondividend distributions).
Approximately 96% percent of the common stock distributions with
a record date of December 31, 2015
that were paid on January 19, 2016
are allocable to 2016 for federal income tax purposes. Also,
approximately 78% percent of the common stock distributions with a
record date of December 31, 2016 that
were paid on January 17, 2017 are
allocable to 2016 for federal income tax
purposes.
This release is based on the preliminary results of work on the
Company's tax filings and may be subject to correction or
adjustment when the filings are completed. However, no
material change in the information reported is expected.
Shareholders are encouraged to consult with their tax advisors as
to their specific tax treatment.
The table below summarizes the income tax treatment of the
Company's common stock distributions.
Declaration
Date
|
Record
Date
|
Payable
Date
|
|
Total
Distributions
Per Share
|
Total
Distribution
Allocable to
2016
|
2016 Total
Ordinary
Dividends
|
2016
Qualified
Dividends (1)
|
2016 Total
Capital Gain
Distributions
|
2016
Unrecaptured
Section 1250
Gain (2)
|
2016 Return
of Capital
(Nondividend
Distributions)
|
|
|
|
|
|
|
|
|
|
|
|
11/11/2015
|
12/31/2015
|
1/19/2016
|
|
$0.127500
|
$0.122981
|
$0.101505
|
$0.000000
|
$0.017495
|
$0.016535
|
$0.003981
|
2/18/2016
|
3/31/2016
|
4/18/2016
|
|
$0.190000
|
$0.190000
|
$0.156820
|
$0.000000
|
$0.027030
|
$0.025546
|
$0.006150
|
5/11/2016
|
6/30/2016
|
7/18/2016
|
|
$0.190000
|
$0.190000
|
$0.156820
|
$0.000000
|
$0.027030
|
$0.025546
|
$0.006150
|
8/2/2016
|
9/30/2016
|
10/17/2016
|
|
$0.190000
|
$0.190000
|
$0.156820
|
$0.000000
|
$0.027030
|
$0.025546
|
$0.006150
|
11/8/2016
|
12/31/2016
|
1/17/2017
|
|
$0.190000
|
$0.147270
|
$0.121552
|
$0.000000
|
$0.020951
|
$0.019801
|
$0.004767
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
$0.887500
|
$0.840251
|
$0.693517
|
$0.000000
|
$0.119536
|
$0.112974
|
$0.027198
|
Form 1099-DIV
Box
|
|
|
|
|
1a
|
1b
|
2a
|
2b
|
3
|
(1)
|
Qualified Dividends
(Box 1b) are a subset of, and are included in, the Total Ordinary
Dividends reported in Box 1a.
|
(2)
|
Unrecaptured Section
1250 Gain (Box 2b) is a subset of, and is included in, the Total
Capital Gain Distributions reported in
Box 2a.
|
About First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading
fully-integrated owner, operator, and developer of industrial real
estate with a track record of providing industry-leading customer
service to multinational corporations and regional customers.
Across major markets in the United
States, our local market experts manage, lease, buy,
(re)develop, and sell bulk and regional distribution centers, light
industrial, and other industrial facility types. In total, we own
and have under development approximately 64.9 million square feet
of industrial space as of September 30,
2016. For more information, please visit us at
www.firstindustrial.com.
Forward-Looking Information
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. We intend for
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are based on certain assumptions and describe our future
plans, strategies and expectations, and are generally identifiable
by use of the words "believe," "expect," "plan," "intend,"
"anticipate," "estimate," "project," "seek," "target," "potential,"
"focus," "may," "will," "should" or similar words. Although we
believe the expectations reflected in forward-looking statements
are based upon reasonable assumptions, we can give no assurance
that our expectations will be attained or that results will not
materially differ. Factors which could have a materially adverse
effect on our operations and future prospects include, but are not
limited to: changes in national, international, regional and local
economic conditions generally and real estate markets specifically;
changes in legislation/regulation (including changes to laws
governing the taxation of real estate investment trusts) and
actions of regulatory authorities; our ability to qualify and
maintain our status as a real estate investment trust; the
availability and attractiveness of financing (including both public
and private capital) and changes in interest rates; the
availability and attractiveness of terms of additional debt
repurchases; changes in our credit agency ratings; our ability to
comply with applicable financial covenants; our competitive
environment; changes in supply, demand and valuation of industrial
properties and land in our current and potential market areas;
difficulties in identifying and consummating acquisitions and
dispositions; our ability to manage the integration of properties
we acquire; potential liability relating to environmental matters;
defaults on or non-renewal of leases by our tenants; decreased
rental rates or increased vacancy rates; higher-than-expected real
estate construction costs and delays in development or lease-up
schedules; changes in general accounting principles, policies and
guidelines applicable to real estate investment trusts; and other
risks and uncertainties described under the heading "Risk Factors"
and elsewhere in our annual report on Form 10-K for the year ended
December 31, 2015, as well as those
risks and uncertainties discussed from time to time in our other
Exchange Act reports and in our other public filings with the SEC.
We caution you not to place undue reliance on forward-looking
statements, which reflect our outlook only and speak only as of the
date of this press release or the dates indicated in the
statements. We assume no obligation to update or supplement
forward-looking statements. For further information on these and
other factors that could impact us and the statements contained
herein, reference should be made to our filings with the
SEC.
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SOURCE First Industrial Realty Trust, Inc.