BETHESDA, Md., Jan. 16,
2014 /PRNewswire/ -- Saul Centers,
Inc. (NYSE: BFS), an equity real estate investment trust (REIT),
announced today the income tax treatment for its 2013
dividends. The Company declared and paid four quarterly
dividends totaling $1.44 per share of
Common Stock during 2013. For tax purposes, 67.0% of the
dividends ($0.9648 per common share)
are characterized as ordinary income and 33.0% of the dividends
($0.4752 per common share) are
characterized as return of capital.
On February 12, 2013, the Company
closed on an underwriting of 6.875% Series C Cumulative Redeemable
Preferred Stock and subsequently redeemed 60% of its 8% Series A
Preferred Stock and 100% of its 9% Series B Preferred Stock.
As a result of the new issuance and redemptions, the Company
declared and paid two dividends totaling $0.8389 per redeemed depositary share and four
dividends totaling $2.00 for the
remaining depositary shares on its 8% Series A Preferred Stock
during 2013. The Company declared and paid two dividends
totaling $0.989 per depositary share
on its 9% Series B Preferred Stock during 2013. The Company
declared and paid three dividends totaling $1.088545 per depositary share on its 6.875%
Series C Preferred Stock during 2013. For tax purposes,
100.0% of all the Preferred Stock dividends are characterized as
ordinary income. The information will be reported to
shareholders on Form 1099-DIV.
Saul Centers is a self-managed,
self-administered equity real estate investment trust headquartered
in Bethesda, Maryland.
Saul Centers currently operates and
manages a real estate portfolio of 59 community and neighborhood
shopping center and mixed-use properties totaling approximately 9.3
million square feet of leasable area. Approximately 85% of the
Company's cash flow is generated from properties in the
metropolitan Washington,
DC/Baltimore
area.
More information about Saul
Centers, Inc. is available on the Company's website at
www.SaulCenters.com.
SOURCE Saul Centers, Inc.