Public Storage Announces Tax Treatment of 2022 Dividends
January 25 2023 - 5:19PM
Business Wire
Public Storage (NYSE:PSA) announced today the tax treatment of
the Company’s 2022 dividends. For the tax year ended December 31,
2022, distributions for the PSA common stock and all the various
series of preferred stock were classified as follows:
2022
1st Quarter
2nd Quarter
8/4/2022 Special
3rd Quarter
4th Quarter
Ordinary Dividends
29.6070%
29.6070%
39.6574%
0.0000%
100.0000%
Capital Gain Distributions
70.3930%
70.3930%
60.3426%
100.0000%
0.0000%
Total
100.0000%
100.0000%
100.0000%
100.0000%
100.0000%
The ordinary dividends are not “qualified dividend income.” For
shareholders other than corporations, the ordinary dividends are
“qualified REIT dividends” in determining qualified business
income.
The company designated the capital gain distributions in
accordance with IRS rules.
The percentage of the long-term capital gain that constitutes
unrecaptured section 1250 gain is 10.0915%.
Corporate shareholders subject to IRC §291 should treat 20% of
the unrecaptured section 1250 gain as ordinary income.
All of the capital gain is Section 897 capital gain for foreign
shareholders.
This release is based on the preliminary results of work on the
Company’s tax filings and is subject to correction or adjustment
when the filings are completed. The Company is releasing
information at this time to aid those required to distribute Forms
1099 on the Company’s distributions. No material change in the
classification is expected.
If you have questions, please consult your tax advisor for
further guidance.
Company Information
Public Storage, a member of the S&P 500 and FT Global 500,
is a REIT that primarily acquires, develops, owns, and operates
self-storage facilities. At September 30, 2022, we had: (i)
interests in 2,836 self-storage facilities located in 40 states
with approximately 202 million net rentable square feet in the
United States and (ii) a 35% common equity interest in Shurgard
Self-Storage SA (Euronext Brussels:SHUR), which owned 259
self-storage facilities located in seven Western European nations
with approximately 14 million net rentable square feet operated
under the Shurgard® brand. Our headquarters are located in
Glendale, California.
Additional information about Public Storage is available on the
Company’s website at PublicStorage.com.
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Ryan Burke (818) 244-8080, Ext. 1141
Public Storage (NYSE:PSA)
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