General Growth Properties Announces Tax Reporting Information for 2006 Common Stock Distributions
January 09 2007 - 7:07PM
Business Wire
General Growth Properties, Inc. (NYSE:GGP) announced the tax
reporting information (Federal Form 1099) for the year 2006
distributions on its common stock. The federal income tax character
of the 2006 regular quarterly dividends paid with respect to
General Growth Properties, Inc. common stock is shown below.
Qualified dividend amounts represent distributions from taxable
REIT subsidiaries and will be taxed at the 15% maximum dividend tax
rate for those shareholders who qualify, generally non-corporate
taxpayers meeting certain holding period requirements. Ordinary
income dividend amounts represent the amount of the dividend
distribution which is not eligible for the 15% maximum dividend tax
rate. The Form 1099 box 1a amount will include both the qualified
dividends and the ordinary income dividends. Each distribution
includes an allocation of Unrecaptured Section 1250 Gain which is a
component of the Capital Gain Distribution. Each distribution also
includes an Alternative Minimum Tax (�AMT�) adjustment to increase
each dividend recipient�s Alternative Minimum Taxable Income
(�AMTI�). COMMON STOCK-CUSIP #370021107-Ticker Symbol GGP �
Character of Items of Income Included in Distributions per Share
Other Reportable Items Nondividend Ordinary Capital Distributions
Unrecap. Payment Income Qualified Gain� (Return of Distributions
Sec. 1250 AMTI Dates Dividends Dividends Distributions Capital) Per
Share Gain Preference � � 1/31/2006� $ 0.132386� $ 0.105333� $
0.049987� $ 0.122294� $ 0.410000� $ 0.000458� $ 0.010711�
4/28/2006� $ 0.132386� $ 0.105333� $ 0.049987� $ 0.122294� $
0.410000� $ 0.000458� $ 0.010711� 7/31/2006� $ 0.132386� $
0.105333� $ 0.049987� $ 0.122294� $ 0.410000� $ 0.000458� $
0.010711� 10/31/2006� $ 0.145302� $ 0.115610� $ 0.054863� $
0.134225� $ 0.450000� $ 0.000501� $ 0.011754� � � � � � � � $
0.542460� $ 0.431609� $ 0.204824� $ 0.501107� $ 1.680000� $
0.001875� $ 0.043887� Amounts reported to GGP Dividend Reinvestment
and Stock Purchase Plan participants will differ due to
administrative costs. Participants should refer to their Form 1099
which will be mailed in the last week of January and contact Mellon
Investor Services at 888-395-8037 for further information.
Taxability of the 2006 common stock distributions is not indicative
of the taxability of future distributions. General Growth
Properties, Inc. is the second largest U.S.-based publicly traded
Real Estate Investment Trust based upon market capitalization. The
Company currently has an ownership interest in or management
responsibility for a portfolio of more than 200 regional shopping
malls in 44 states, as well as ownership in master planned
community developments and commercial office buildings. The Company
portfolio totals approximately 200 million square feet of retail
space and includes over 24,000 retail stores nationwide. The
Company is listed on the New York Stock Exchange under the symbol
�GGP�. For more information, please visit the Company Web site at
www.ggp.com . This press release contains forward-looking
statements. Actual results may differ materially from the results
suggested by these forward-looking statements for a number of
reasons, including, but not limited to, the retail market, tenant
occupancy and tenant bankruptcies, the level of our indebtedness
and interest rates, market conditions and land sales in our Master
Planned Communities segment and our ability to manage our growth.
Readers are referred to the documents filed by General Growth
Properties, Inc. with the SEC, specifically the most recent report
on Form 10-K, which further identifies the important risk factors
which could cause actual results to differ materially from the
forward-looking statements in this release. The Company disclaims
any obligation to update any forward-looking statements.
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