SAN DIEGO, Jan. 28, 2022 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced the final calculation of the
dividend tax status for its 2021 common stock dividends. Also,
Realty Income announced today the final calculation of the dividend
tax status for VEREIT, Inc.'s (VEREIT, formerly NYSE: VER) 2021
common stock dividends and 6.70% Seres F Cumulative Redeemable
Preferred Stock (Series F Preferred Stock, formerly NYSE: VER-PF)
dividends. A portion of the common stock dividend is considered a
non-taxable distribution for both Realty Income and VEREIT. The
respective tax attributes of the dividends paid per share are
outlined below:
|
Realty Income
Corporation Common Stock (CUSIP: 756109104)
|
|
|
|
Total Common
Dividends Paid in 2021(1)
|
$
4.8927123
|
|
Ordinary Income
Portion of Dividend
|
$ 1.5146899
(30.958%)
|
|
Total Capital Gain
Distribution(2)
|
$ 0.0854609
(1.747%)
|
|
Non-taxable
Distribution (return of capital)
|
$ 3.2925615
(67.295%)
|
|
(1)
|
Note that the amount
distributed in 2021 includes the $2.060 tax distribution of Orion
Office REIT Inc. (Orion, NYSE: ONL) shares, that occurred in
conjunction with our spinoff of Orion on November 12, 2021, after
our merger with VEREIT Inc. on November 1, 2021. The fair
market value of these shares was determined to be $20.6272 per
share, which was calculated using the five day volume weighted
average share price after issuance.
|
|
(2)
|
Unrecaptured Section
1250 Gain of $0.0649153, or 1.327% of the total common dividends
paid in 2021, and Section 897 Gain of $0.0854609, or 1.747% of the
total common dividends paid in 2021, both represent additional
characterization of, and are part of, "Total Capital Gain
Distribution."
|
|
VEREIT, Inc.
Common Stock (CUSIP: 92339V308)
|
|
|
|
|
Total Common
Dividends Paid in 2021
|
$
1.7710000
|
|
Ordinary Income
Portion of Dividend
|
$ 1.3051316
(73.695%)
|
|
Total Capital Gain
Distribution(3)
|
$ 0.0227853
(1.286%)
|
|
Non-taxable
Distribution (return of capital)
|
$ 0.4430831
(25.019%)
|
|
(3)
|
Unrecaptured Section
1250 Gain of $0.0227853, or 1.286% of the total common dividends
paid in 2021, represents additional characterization of, and is
part of, "Total Capital Gain Distribution."
|
|
VEREIT, Inc.
Preferred Series F Preferred Stock (CUSIP:
92339V209)
|
|
|
|
|
Total Ser. F Pref.
Stk Dividends Paid in 2021
|
$
1.3958330
|
|
Ordinary Income
Portion of Dividend
|
$ 1.3718823
(98.284%)
|
|
Total Capital Gain
Distribution(4)
|
$ 0.0239507
(1.716%)
|
|
(4)
|
Unrecaptured Section
1250 Gain of $0.0239507, or 1.716% of the total common dividends
paid in 2021, represents additional characterization of, and is
part of, "Total Capital Gain Distribution."
|
Shareholders are encouraged to consult with their tax advisors
as to their specific tax treatment of any Realty Income or VEREIT
dividends received.
Additionally, the legacy VEREIT notes identified below, which
were exchanged for new Realty Income notes in November 2021, were determined to be publicly
traded for U.S. federal income tax purposes. The estimated issuance
prices of the new Realty Income notes were determined to be as
follows:
|
Asset
Name
|
Target
CUSIP
|
New
CUSIP
|
Series of
Notes
|
Market Value (per
$1,000 principal amount)
|
|
ARC PROP OPER
PART 4.600% 2/06/24
|
03879QAF1
|
756109BD5
|
4.600% 2024
Notes
|
$1,074.32
|
|
VEREIT OPERATING PAR
4.625% 11/01/25
|
92340LAD1
|
756109BE3
|
4.625% 2025
Notes
|
$1,122.75
|
|
VEREIT OPERATING PAR
4.875% 6/01/26
|
92340LAA7
|
756109BF0
|
4.875% 2026
Notes
|
$1,139.87
|
|
VEREIT OPERATING PAR
3.950% 8/15/27
|
92340LAC3
|
756109BG8
|
3.950% 2027
Notes
|
$1,111.93
|
|
VEREIT OPERATING PAR
3.400% 1/15/28
|
92340LAF6
|
756109BH6
|
3.400% 2028
Notes
|
$1,079.83
|
|
VEREIT OPERATING PAR
2.200% 6/15/28
|
92340LAH2
|
756109BJ2
|
2.200% 2028
Notes
|
$1,013.58
|
|
VEREIT OPERATING PAR
3.100% 12/15/29
|
92340LAE9
|
756109BK9
|
3.100% 2029
Notes
|
$1,073.38
|
|
VEREIT OPERATING PAR
2.850% 12/15/32
|
92340LAG4
|
756109BL7
|
2.850% 2032
Notes
|
$1,051.43
|
About the Company
Realty Income, The Monthly Dividend Company®, is an
S&P 500 company and member of the S&P 500 Dividend
Aristocrats® index. We invest in people and places to
deliver dependable monthly dividends that increase over time.
The company is structured as a REIT, and its monthly dividends are
supported by the cash flow from almost 11,000 real estate
properties owned under long-term lease agreements with commercial
clients. To date, the company has declared 619 consecutive common
stock monthly dividends throughout its 53-year operating history
and increased the dividend 114 times since Realty Income's public
listing in 1994 (NYSE: O). Additional information about the company
can be obtained from the corporate website at
www.realtyincome.com.
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SOURCE Realty Income Corporation