CoreSite Announces Tax Treatment of 2020 Distributions
January 20 2021 - 7:00AM
Business Wire
CoreSite Realty Corporation (NYSE:COR) (the “Company”), a
premier provider of secure, reliable, high-performance data center,
cloud and interconnection solutions in major U.S. metropolitan
areas, today announced the income tax allocation for federal income
tax purposes of its 2020 distributions on its common stock. As
shown in the table below, the common distributions allocable to tax
year 2020 are composed of 64.2667% taxable ordinary dividends and
35.7333% non-dividend distributions.
CoreSite Common Stock (NYSE:COR; CUSIP: 21870Q105)
Record Date
Payable Date
Distribution Per Share
Taxable Ordinary Dividends*
Long-term Capital Gains
Long-term Unrecaptured Section
1250 Gain
Qualified Dividends
Return of Capital
Section 199A Dividends*
12/31/19
1/15/20
$1.220000
$0.784054
$0.00
$0.00
$0.00
$0.435946
$0.784054
3/31/20
4/15/20
$1.220000
$0.784054
$0.00
$0.00
$0.00
$0.435946
$0.784054
6/30/20
7/15/20
$1.220000
$0.784054
$0.00
$0.00
$0.00
$0.435946
$0.784054
9/30/20
10/15/20
$1.220000
$0.784054
$0.00
$0.00
$0.00
$0.435946
$0.784054
Total
$4.880000
$3.136216
$0.00
$0.00
$0.00
$1.743784
$3.136216
* The 2020 Taxable Ordinary Dividends are treated as “qualified
REIT dividends” for purposes of Internal Revenue Code Section
199A.
CoreSite Realty Corporation’s tax return for the year ended
December 31, 2020, has not been filed. As a result, the income tax
allocation for the 2020 distributions shown 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, cloud and interconnection
solutions to a growing customer ecosystem across eight key North
American markets. More than 1,350 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 460+ 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: the geographic concentration of the Company’s data
centers in certain markets and any adverse developments in local
economic conditions or the level of supply of or demand for data
center space in these markets; fluctuations in interest rates and
increased operating costs; difficulties in identifying properties
to acquire and completing acquisitions; significant industry
competition, including indirect competition from cloud service
providers; failure to obtain necessary outside financing; the
ability to service existing debt; the failure to qualify or
maintain its status as a REIT; financial market fluctuations;
changes in real estate and zoning laws and increases in real
property tax rates; the effects on our business operations, demand
for our services and general economic conditions resulting from the
spread of the Novel Coronavirus (“COVID-19”) in our markets, as
well as orders, directives and legislative action by local, state
and federal governments in response to such spread of COVID-19; and
other factors affecting the real estate industry generally. All
forward-looking statements reflect the Company’s good faith
beliefs, assumptions and expectations, but they are not guarantees
of future performance. Furthermore, the Company 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 the Company’s future results to differ materially from
any forward-looking statements, see the section entitled “Risk
Factors” in its most recent annual report on Form 10-K, and other
risks described in documents subsequently filed by the Company from
time to time with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20210120005159/en/
Kate Ruppe Investor Relations 303-222-7369
InvestorRelations@CoreSite.com
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