CoreSite Announces Tax Treatment of 2017 Distributions
January 22 2018 - 4:15PM
Business Wire
CoreSite Realty Corporation (NYSE:COR), a premier provider of
secure, reliable, high-performance data center and interconnection
solutions across the U.S., today announced the income tax
allocation for federal income tax purposes of its 2017
distributions on its common and preferred stock. As shown in the
tables below, the common distributions allocable to tax year 2017
are composed of 70.1451% ordinary dividends and 29.8549%
non-dividend distributions. The preferred stock distributions
allocable to tax year 2017 are 100% ordinary income.
Table 1. CoreSite Common
Stock (NYSE:COR; CUSIP: 21870Q105)
RecordDate PayableDate DistributionPer Share
TaxableOrdinaryDividends Long-termCapital Gains
Long-termUnrecapturedSection1250 Gain
QualifiedDividends Return ofCapital 12/30/16 1/17/17
$0.800000 $0.306753 $0.00 $0.00
$0.00 $0.130559 3/31/17 4/17/17 $0.800000
$0.561161 $0.00 $0.00 $0.00
$0.238839 6/30/17 7/17/17 $0.900000 $0.631306
$0.00 $0.00 $0.00 $0.268694 9/28/17
10/16/17 $0.900000 $0.631306 $0.00
$0.00 $0.00 $0.268694
Total $3.400000 $2.130526
$0.00 $0.00 $0.00
$0.906786
Table 2. CoreSite Series A
Cumulative Redeemable Preferred Stock (NYSE:CORprA; CUSIP:
21870Q204)
RecordDate PayableDate DistributionPer Share
TaxableOrdinaryDividends Long-termCapitalGains
Long-termUnrecapturedSection1250 Gain QualifiedDividends
3/31/17 4/17/17 $0.453125 $0.453125
$0.00 $0.00 $0.00 6/30/17 7/17/17
$0.453125 $0.453125 $0.00 $0.00 $0.00
9/28/17 10/16/17 $0.453125 $0.453125
$0.00 $0.00 $0.00
Total
$1.359375 $1.359375 $0.00
$0.00 $0.00
Additionally, on December 12, 2017, CoreSite redeemed all
4,600,000 outstanding shares of its 7.25% Series A Cumulative
Redeemable Preferred Stock at $25.292014 per share. The redemption
included an amount for accrued distributions. Please consult your
tax advisor for appropriate tax treatment of this redemption.
CoreSite’s tax return for the year ended December 31, 2017, has
not been filed. As a result, the income tax allocation for the
distributions discussed above has been calculated using the best
available information as of the date of this release.
Please note that federal tax laws affect taxpayers differently,
and the information in this release is not intended as advice to
shareholders on how distributions should be reported on their tax
returns. Also note that state and local taxation of real estate
investment trust distributions varies and may not be the same as
the taxation under the federal rules. CoreSite encourages
shareholders to consult with their own tax advisors as to their
specific federal, state, and local income tax treatment of CoreSite
distributions.
About CoreSite
CoreSite Realty Corporation (NYSE:COR) delivers secure,
reliable, high-performance data center and interconnection
solutions to a growing customer ecosystem across eight key North
American markets. More than 1,200 of the world’s leading
enterprises, network operators, cloud providers, and supporting
service providers choose CoreSite to connect, protect and optimize
their performance-sensitive data, applications and computing
workloads. Our scalable, flexible solutions and 430+ dedicated
employees consistently deliver unmatched data center options — all
of which leads to a best-in-class customer experience and lasting
relationships. For more information, visit www.CoreSite.com.
Forward Looking Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In
some cases, you can identify forward-looking statements by the use
of forward-looking terminology such as "believes," "expects,"
"may," "will," "should," "seeks," "approximately," "intends,"
"plans," "pro forma," "estimates" or "anticipates" or the negative
of these words and phrases or similar words or phrases that are
predictions of or indicate future events or trends and that do not
relate solely to historical matters. Forward-looking statements
involve known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond CoreSite's control that may
cause actual results to differ significantly from those expressed
in any forward-looking statement. These risks include, without
limitation: any adverse developments in local economic conditions
or the demand for data center space in these markets; operational
difficulties, including difficulties relating to information
systems, internal processes and information security; significant
industry competition; financial market fluctuations; and other
factors affecting the real estate industry generally. All
forward-looking statements reflect CoreSite's good faith beliefs,
assumptions and expectations, but they are not guarantees of future
performance. Furthermore, CoreSite disclaims any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, of new information,
data or methods, future events or other changes. For a further
discussion of these and other factors that could cause CoreSite's
future results to differ materially from any forward-looking
statements, see the section entitled "Risk Factors" in CoreSite's
most recent annual report on Form 10-K, and other risks described
in documents subsequently filed by CoreSite from time to time with
the Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20180122006441/en/
CoreSite Realty CorporationGreer Aviv, 303-405-1012Vice
President of Investor Relations and Corporate
CommunicationsGreer.Aviv@CoreSite.com
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