TERRENO REALTY CORPORATION Terreno Realty Corporation (NYSE:TRNO) , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today the income tax treatment of its 2017 distributions to holders of its common and preferred stock.
For holders of Terreno Realty Corporation common stock, the 2017 dividend of approximately $0.84 per share includes three quarterly distributions declared and paid in 2017, one quarterly distribution declared in 2016 and paid in 2017, and a portion of one quarterly distribution declared in 2017 and paid in 2018. The dividend characteristics are as follows:
| Security | Record Date | Date Paid | Dividend |
2017 Ordinary |
2017 Total |
2017 |
2017 Return | ||||||||||||||||
| Common stock | December 30, 2016 | January 13, 2017 | $ | 0.200000 | $ | 0.172859 | $ | 0.027141 | $ | 0.002137 | $ | - | |||||||||||
| Common stock | March 28, 2017 | April 12, 2017 | $ | 0.200000 | $ | 0.172859 | $ | 0.027141 | $ | 0.002137 | $ | - | |||||||||||
| Common stock | July 7, 2017 | July 21, 2017 | $ | 0.200000 | $ | 0.172859 | $ | 0.027141 | $ | 0.002137 | $ | - | |||||||||||
| Common stock | October 6, 2017 | October 21, 2017 | $ | 0.220000 | $ | 0.190145 | $ | 0.029855 | $ | 0.002350 | $ | - | |||||||||||
| Common stock | December 29, 2017 | January 12, 2018 | $ | 0.020075 | $ | 0.017282 | $ | 0.002724 | $ | 0.000214 | $ | - | |||||||||||
| Total | $ | 0.840075 | $ | 0.726004 | $ | 0.114002 | $ | 0.008975 | $ | - | |||||||||||||
| Dividend as a % of total | 86.4 | % | 13.6 | % | 1.1 | % | 0.0 | % | |||||||||||||||
(1) The 2017 Unrecaptured Section 1250 Gain is a subset of, and is included in, the 2017 Total Capital Gain Distribution amount. | |||||||||||||||||||||||
Approximately $0.02 of the $0.22 dividend that was declared on October 31, 2017 and paid on January 12, 2018 will be considered a distribution made in 2017 for U.S. federal income tax purposes.
For holders of Terreno Realty Corporation preferred stock that was redeemed on July 19, 2017, the dividend characteristics of the 2017 dividends are as follows:
| Security | Record Date | Date Paid | Dividend |
2017 Ordinary |
2017 Capital |
2017 |
2017 Return | ||||||||||||||||
| Preferred stock | March 10, 2017 | March 31, 2017 | $ | 0.484375 | $ | 0.418644 | $ | 0.065731 | $ | 0.005175 | $ | - | |||||||||||
| Preferred stock | June 9, 2017 | June 30, 2017 | $ | 0.484375 | $ | 0.418644 | $ | 0.065731 | $ | 0.005175 | $ | - | |||||||||||
| Preferred stock | July 19, 2017 | July 19, 2017 | $ | 0.096875 | $ | 0.083729 | $ | 0.013146 | $ | 0.001035 | $ | - | |||||||||||
| Total | $ | 1.065625 | $ | 0.921017 | $ | 0.144608 | $ | 0.011385 | $ | - | |||||||||||||
| Dividend as a % of total | 86.4 | % | 13.6 | % | 1.1 | % | 0.0 | % | |||||||||||||||
(1) The 2017 Unrecaptured Section 1250 Gain is a subset of, and is included in, the 2017 Total Capital Gain Distribution amount. | |||||||||||||||||||||||
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”, and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2016 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180130006088/en/
