Post Properties, Inc. (NYSE: PPS) announced today how it expects its 2015 dividends to be classified for federal income tax purposes. The dividend classifications are shown on the attached chart. Of special note is that for tax reporting purposes, the common stock dividend payable on January 15, 2016 is taxable in year 2016. 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 dividends. No material change in these classifications is expected.
About Post Properties
Post Properties, founded more than 40 years ago, is a leading developer and operator of upscale multifamily communities. Operating as a real estate investment trust (“REIT”), the Company focuses on developing and managing Post® branded high density urban and resort-style garden apartments. Post Properties is headquartered in Atlanta, Georgia, and has operations in ten markets across the country. Post Properties has interests in 23,723 apartment units in 60 communities, including 1,471 apartment units in four communities held in unconsolidated entities and 2,192 apartment units in six communities currently under development or in lease-up.
| Post Properties, Inc. | |||||||||||||||||||||||||||||||||||||
| Estimated Income Tax Characteristics of 2015 Dividends for Form 1099-DIV | |||||||||||||||||||||||||||||||||||||
| Total Ordinary Taxable Dividends | Total Capital Gain Distribution | ||||||||||||||||||||||||||||||||||||
| (a) | = Breakout of (a) | (b) | = Breakout of (b) | (c) | (a)+(b)+(c) | ||||||||||||||||||||||||||||||||
| Ordinary | Total | Unrecaptured | |||||||||||||||||||||||||||||||||||
| Taxable | Ordinary | Short-Term | Qualified | Capital Gain | Long-Term | Sec. 1250 | Return | ||||||||||||||||||||||||||||||
| Declaration | Record | Payable | Distribution | Dividends | Income | Capital | Dividends | Distribution | Capital | Gain | of Capital | ||||||||||||||||||||||||||
Date | Date | Date | Per Share | (Box 1a Total) | Dividends | Gain | (Box 1b) | (Box 2a Total) | Gain | (Box 2b) | (Box 3) | Total % | |||||||||||||||||||||||||
Common Stock- (PPS) (CUSIP 737464107) | |||||||||||||||||||||||||||||||||||||
| 11/19/2014 | 1/2/2015 | 1/15/2015 | $ | 0.4000 | 0.00000% | 0.00000% | 0.00000% | 0.00000% | 100.00000% | 35.56598% | 64.43402% | 0.00000% | 100.00000% | ||||||||||||||||||||||||
| 2/4/2015 | 3/31/2015 | 4/15/2015 | $ | 0.4000 | 97.13642% | 97.13642% | 0.00000% | 0.00000% | 2.86358% | 2.86358% | 0.00000% | 0.00000% | 100.00000% | ||||||||||||||||||||||||
| 6/3/2015 | 6/30/2015 | 7/15/2015 | $ | 0.4400 | 97.13642% | 97.13642% | 0.00000% | 0.00000% | 2.86358% | 2.86358% | 0.00000% | 0.00000% | 100.00000% | ||||||||||||||||||||||||
| 9/16/2015 | 9/30/2015 | 10/15/2015 | $ | 0.4400 | 97.13642% | 97.13642% | 0.00000% | 0.00000% | 2.86358% | 2.86358% | 0.00000% | 0.00000% | 100.00000% | ||||||||||||||||||||||||
| 12/2/2015 | 1/4/2016 | 1/15/2016 | $ | 0.4400 | (1) | See Note | See Note | See Note | See Note | See Note | See Note | See Note | See Note | See Note | |||||||||||||||||||||||
| 2015 Total | $ | 1.6800 | |||||||||||||||||||||||||||||||||||
| (1) Note:The Common Stock dividend paid on 1/15/16 is taxable in Year 2016 - no portion of that dividend is taxable in Year 2015 | |||||||||||||||||||||||||||||||||||||
8.5% Series A Cumulative Redeemable Preferred (PPS-PA) (CUSIP 737464206) | |||||||||||||||||||||||||||||||||||||
| 2/4/2015 | 3/16/2015 | 3/31/2015 | $ | 1.0625 | 94.99045% | 94.99045% | 0.00000% | 0.00000% | 5.00955% | 3.58605% | 1.42350% | 0.00000% | 100.00000% | ||||||||||||||||||||||||
| 6/3/2015 | 6/15/2015 | 6/30/2015 | $ | 1.0625 | 97.13642% | 97.13642% | 0.00000% | 0.00000% | 2.86358% | 2.86358% | 0.00000% | 0.00000% | 100.00000% | ||||||||||||||||||||||||
| 8/31/2015 | 9/15/2015 | 9/30/2015 | $ | 1.0625 | 97.13642% | 97.13642% | 0.00000% | 0.00000% | 2.86358% | 2.86358% | 0.00000% | 0.00000% | 100.00000% | ||||||||||||||||||||||||
| 12/2/2015 | 12/15/2015 | 12/31/2015 | $ | 1.0625 | 97.13642% | 97.13642% | 0.00000% | 0.00000% | 2.86358% | 2.86358% | 0.00000% | 0.00000% | 100.00000% | ||||||||||||||||||||||||
| 2015 Total | $ | 4.2500 | |||||||||||||||||||||||||||||||||||
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Contacts:
Chris Papa, 404-846-5000
