Taubman Centers, Inc. (NYSE: TCO) announced today the tax
allocations of the 2018 dividend distributions on its common shares
and 6.5% Series J and 6.25% Series K Cumulative Redeemable
Preferred Shares.
The 2018 distributions paid with respect to Taubman Centers,
Inc. Common Stock (NYSE: TCO/Cusip no. 876664103) are as
follows:
Declaration
Date
Record
Date
Payable
Date
Gross
Distribution
Ordinary
Dividend
Percent
Return of
Capital
Percent
Long Term
Capital
Gain
Percent
Unrecaptured
Sec. 1250
Capital Gain
Percent
03/02/18 03/15/18 03/30/18 0.65500 56.35856% 42.62125% 1.00221%
.01798% 05/31/18 06/15/18 06/29/18 0.65500 56.35856% 42.62125%
1.00221% .01798% 09/06/18 09/17/18 09/28/18 0.65500 56.35856%
42.62125% 1.00221% .01798% 12/06/18 12/17/18 12/31/18 0.65500
56.35856% 42.62125% 1.00221% .01798% 2018 TOTALS PER SHARE 2.62000
56.35856% 42.62125% 1.00221% .01798%
• Amounts reported to Direct Share Purchase and Dividend
Reinvestment Plan participants will differ due to administrative
costs. Participants should refer to their Form 1099, which will be
mailed on or before February 15, 2019 and contact Computershare at
(888) 877-2889 for further information.
• The return of capital percentage on common stock dividends is
also reported on the Taubman Website at www.taubman.com, pursuant
to U.S. tax basis reporting required under Internal Revenue Code
Section 6045B.
• The portion of the per share dividends paid in 2018 detailed
above as capital gains (long term and unrecaptured Section 1250)
are designated as capital gain dividends for tax purposes as
required by Internal Revenue Code Section 857(b)(3)(C). The
unrecaptured Section 1250 gains are 25% rate gain distributions and
the long term capital gains are maximum 20% rate gain distributions
but may be eligible for a lower capital gains rate. Please consult
your tax advisor.
• For 2018, 0.150247% of the ordinary dividend distribution to
common shareholders will be allocable as qualified dividends.
• For 2018, 99.84975% of the ordinary dividend distribution to
common shareholders will be allocable as qualified REIT dividends
eligible for a 20% deduction under Internal Revenue Code Section
199A(a). Please consult your tax advisor to determine if you
qualify for this deduction.
• Taxability of the 2018 common dividend is not indicative of
the taxability of future dividends.
The 2018 distributions paid with respect to Taubman Centers,
Inc. Series J Preferred Stock (NYSE: TCO PrJ/Cusip no. 876664608)
are as follows:
Declaration
Date
Record
Date
Payable
Date
Gross
Distribution
Ordinary
Dividend
Percent
Return of
Capital
Percent
Long Term
Capital
Gain
Percent
Unrecaptured
Sec. 1250
Capital Gain
Percent
03/02/18 03/15/18 03/30/18 0.40625 98.22200% 0% 1.74665% .03135%
05/31/18 06/15/18 06/29/18 0.40625 98.22200% 0% 1.74665% .03135%
09/06/18 09/17/18 09/28/18 0.40625 98.22200% 0% 1.74665% .03135%
12/06/18 12/17/18 12/31/18 0.40625 98.22200% 0% 1.74665% .03135%
2018 TOTALS PER SHARE 1.62500 98.22200% 0% 1.74665% .03135%
• The portion of the per share dividends paid in 2018 detailed
above as capital gains (long term and unrecaptured Section 1250)
are designated as capital gain dividends for tax purposes as
required by Internal Revenue Code Section 857(b)(3)(C). The
unrecaptured Section 1250 gains are 25% rate gain distributions and
the long term capital gains are maximum 20% rate gain distributions
but may be eligible for a lower capital gains rate. Please consult
your tax advisor.
• For 2018, 0.15025% of the ordinary dividend distribution to
preferred shareholders will be allocable as qualified
dividends.
• For 2018, 99.84975% of the ordinary dividend distribution to
preferred shareholders will be allocable as qualified REIT
dividends eligible for a 20% deduction under Internal Revenue Code
Section 199A(a). Please consult your tax advisor to determine if
you qualify for this deduction.
• Taxability of the 2018 dividend to Series J Preferred Stock
holders is not indicative of the taxability of future
dividends.
The 2018 distributions paid with respect to Taubman Centers,
Inc. Series K Preferred Stock (NYSE: TCO PrK/Cusip no. 876664707)
are as follows:
Declaration
Date
Record
Date
Payable
Date
Gross
Distribution
Ordinary
Dividend
Percent
Return of
Capital
Percent
Long Term
Capital
Gain
Percent
Unrecaptured
Sec. 1250
Capital Gain
Percent
03/02/18 03/15/18 03/30/18 0.390625 98.22200% 0% 1.74665% .03135%
05/31/18 06/15/18 06/29/18 0.390625 98.22200% 0% 1.74665% .03135%
09/06/18 09/17/18 09/28/18 0.390625 98.22200% 0% 1.74665% .03135%
12/06/18 12/17/18 12/31/18 0.390625 98.22200% 0% 1.74665% .03135%
2018 TOTALS PER SHARE 1.562500 98.22200% 0% 1.74665% .03135%
• The portion of the per share dividends paid in 2018 detailed
above as capital gains (long term and unrecaptured Section 1250)
are designated as capital gain dividends for tax purposes as
required by Internal Revenue Code Section 857(b)(3)(C). The
unrecaptured Section 1250 gains are 25% rate gain distributions and
the long term capital gains are maximum 20% rate gain distributions
but may be eligible for a lower capital gains rate. Please consult
your tax advisor.
• For 2018, 0.15025% of the ordinary dividend distribution to
preferred shareholders will be allocable as qualified
dividends.
• For 2018, 99.84975% of the ordinary dividend distribution to
preferred shareholders will be allocable as qualified REIT
dividends eligible for a 20% deduction under Internal Revenue Code
Section 199A(a). Please consult your tax advisor to determine if
you qualify for this deduction.
• Taxability of the 2018 dividend to Series K Preferred Stock
holders is not indicative of the taxability of future
dividends.
About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment
Trust engaged in the ownership, management and/or leasing of 26
regional, super-regional and outlet shopping centers in the U.S.
and Asia. Taubman’s U.S.-owned properties are the most productive
in the publicly held U.S. regional mall industry. Founded in 1950,
Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia,
founded in 2005, is headquartered in Hong Kong. www.taubman.com.
For ease of use, references in this press release to “Taubman
Centers,” “company,” “Taubman” or an operating platform mean
Taubman Centers, Inc. and/or one or more of a number of separate,
affiliated entities. Business is actually conducted by an
affiliated entity rather than Taubman Centers, Inc. itself or the
named operating platform.
This press release may contain 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 statements reflect management's current views with
respect to future events and financial performance. Forward-looking
statements can be identified by words such as “will”, “may”,
“could”, “expect”, “anticipate”, “believes”, “intends”, “should”,
“plans”, “estimates”, “approximate”, “guidance” and similar
expressions in this press release that predict or indicate future
events and trends and that do not report historical matters. The
forward-looking statements included in this release are made as of
the date hereof. Except as required by law, the company assumes no
obligation to update these forward-looking statements, even if new
information becomes available in the future. Actual results may
differ materially from those expected because of various risks,
uncertainties and other factors. Such factors include, but are not
limited to: changes in market rental rates; unscheduled closings or
bankruptcies of tenants; relationships with anchor tenants; trends
in the retail industry; challenges with department stores; changes
in consumer shopping behavior; the liquidity of real estate
investments; the company’s ability to comply with debt covenants;
the availability and terms of financings; changes in market rates
of interest and foreign exchange rates for foreign currencies;
changes in value of investments in foreign entities; the ability to
hedge interest rate and currency risk; risks related to acquiring,
developing, expanding, leasing and managing properties; competitors
gaining economies of scale through M&A and consolidation
activity; changes in value of investments in foreign entities;
risks related to joint venture properties; insurance costs and
coverage; security breaches that could impact the company’s
information technology, infrastructure or personal data; costs
associated with response to technology breaches; the loss of key
management personnel; shareholder activism costs and related
diversion of management time; terrorist activities; maintaining the
company’s status as a real estate investment trust; changes in the
laws of states, localities, and foreign jurisdictions that may
increase taxes on the company’s operations; and changes in global,
national, regional and/or local economic and geopolitical climates.
You should review the company's filings with the Securities and
Exchange Commission, including “Risk Factors” in its most recent
Annual Report on Form 10-K and subsequent quarterly reports, for a
discussion of such risks and uncertainties.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190118005472/en/
Mark Godek, Taubman, Director, Tax Compliance, (248)
258-7667mgodek@taubman.com
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