COPT Announces Tax Treatment of 2012 Distributions
by
Jan 23rd 2013 8:20PM
Updated Jan 24th 2013 5:25AM
COPT Announces Tax Treatment of 2012 Distributions
COLUMBIA, Md.--(BUSINESS WIRE)-- Corporate Office Properties Trust (COPT or the Company) (NYS: OFC) announced that 33.18% of its 2012 Common Share distributions qualifies as ordinary income and 66.82% qualifies as return of capital. The Company also announced that 100% of its distributions paid to Preferred Shares in 2012 qualify as ordinary income. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment for Corporate Office Properties Trust Common and Preferred Share distributions.
The Common and Preferred share distributions with a record date of December 31, 2012 (with a payment date of January 15, 2013) will be allocable to 2013 for income tax purposes as the company had already distributed in excess of 100% of its 2012 taxable income to shareholders prior to making its fourth quarter distributions.
The table below summarizes the income tax treatment for 2012 distributions for the Common Shares of COPT.
| 2012 | |||||||||||||||||||||||
| Total | 2012 Taxable | 2012 Total | Unrecaptured | ||||||||||||||||||||
| Payment | Distribution per | Total Distribution | Ordinary | 2012 Qualified | Capital Gain | Return of | Section 1250 | ||||||||||||||||
| Record Date | Date | Share | Allocable to 2012 | Dividends | Dividends | Distribution | Capital (1) | Gain | |||||||||||||||
|
Common Shares (CUSIP# 22002T108) |
|||||||||||||||||||||||
| 3/31/2012 | 4/16/2012 | $ | 0.2750 | $ | 0.2750 | $ | 0.091244 | $ | - | $ | - | $ | 0.183756 | $ | - | ||||||||
| 6/29/2012 | 7/16/2012 | $ | 0.2750 | $ | 0.2750 | $ | 0.091244 | $ | - | $ | - | $ | 0.183756 | $ | - | ||||||||
| 9/12/2012 | 10/15/2012 | $ | 0.2750 | $ | 0.2750 | $ | 0.091244 | $ | - | $ | - | $ | 0.183756 | $ | - | ||||||||
| 12/31/2012 | 1/15/2013 | $ | 0.2750 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
| $ | 1.1000 | $ | 0.8250 | $ | 0.273732 | $ | - | $ | - | $ | 0.551268 | $ | - | ||||||||||
| (1) Represents a return of shareholder investment. | |||||||||||||||||||||||
The table below summarizes the income tax treatment for 2012 distributions for the COPT Series G Preferred Shares.
| 2012 | ||||||||||||||||||||
| Total | 2012 Taxable | 2012 Total | Unrecaptured | |||||||||||||||||
| Payment | Distribution per | Total Distribution | Ordinary | 2012 Qualified | Capital Gain | Section 1250 | ||||||||||||||
| Record Date | Date | Share | Allocable to 2012 | Dividends | Dividends | Distribution | Gain | |||||||||||||
| Series G Preferred Shares (CUSIP# 22002T504) | ||||||||||||||||||||
| 3/31/2012 | 4/16/2012 | $ | 0.5000 | $ | 0.5000 | $ | 0.5000 | $ | - | $ | - | $ | - | |||||||
| 6/29/2012 | 7/16/2012 | $ | 0.5000 | $ | 0.5000 | $ | 0.5000 | $ | - | $ | - | $ | - | |||||||
| 8/1/2012 | 8/1/2012 | $ | 0.1222 | $ | 0.1222 | $ | 0.1222 | $ | - | $ | - | $ | - | |||||||
| $ | 1.1222 | $ | 1.1222 | $ | 1.1222 | $ | - | $ | - | $ | - | |||||||||
The table below summarizes the income tax treatment for 2012 distributions for the COPT Series H Preferred Shares.
| 2012 | ||||||||||||||||||||
| Total | 2012 Taxable | 2012 Total | Unrecaptured | |||||||||||||||||
| Payment | Distribution per | Total Distribution | Ordinary | 2012 Qualified | Capital Gain | Section 1250 | ||||||||||||||
| Record Date | Date | Share | Allocable to 2012 | Dividends | Dividends | Distribution | Gain | |||||||||||||
| Series H Preferred Shares (CUSIP# 22002T603) | ||||||||||||||||||||
| 3/31/2012 | 4/16/2012 | $ | 0.4688 | $ | 0.4688 | $ | 0.4688 | $ | - | $ | - | $ | - | |||||||
| 6/29/2012 | 7/16/2012 | $ | 0.4688 | $ | 0.4688 | $ | 0.4688 | $ | - | $ | - | $ | - | |||||||
| 9/12/2012 | 10/15/2012 | $ | 0.4688 | $ | 0.4688 | $ | 0.4688 | $ | - | $ | - | $ | - | |||||||
| 12/31/2012 | 1/15/2013 | $ | 0.4688 | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||
| $ | 1.8752 | $ | 1.4064 | $ | 1.4064 | $ | - | $ | - | $ | - | |||||||||
The table below summarizes the income tax treatment for 2012 distributions for the COPT Series J Preferred Shares.
| 2012 | ||||||||||||||||||||
| Total | 2012 Taxable | 2012 Total | Unrecaptured | |||||||||||||||||
| Payment | Distribution per | Total Distribution | Ordinary | 2012 Qualified | Capital Gain | Section 1250 | ||||||||||||||
| Record Date | Date | Share | Allocable to 2012 | Dividends | Dividends | Distribution | Gain | |||||||||||||
| Series J Preferred Shares (CUSIP# 22002T702) | ||||||||||||||||||||
| 3/31/2012 | 4/16/2012 | $ | 0.4766 | $ | 0.4766 | $ | 0.4766 | $ | - | $ | - | $ | - | |||||||
| 6/29/2012 | 7/16/2012 | $ | 0.4766 | $ | 0.4766 | $ | 0.4766 | $ | - | $ | - | $ | - | |||||||
| 9/12/2012 | 10/15/2012 | $ | 0.4766 | $ | 0.4766 | $ | 0.4766 | $ | - | $ | - | $ | - | |||||||
| 12/31/2012 | 1/15/2013 | $ | 0.4766 | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||
| $ | 1.9064 | $ | 1.4298 | $ | 1.4298 | $ | - | $ | - | $ | - | |||||||||
The table below summarizes the income tax treatment for 2012 distributions for the COPT Series K Preferred Shares.
| 2012 | ||||||||||||||||||||
| Total | 2012 Taxable | 2012 Total | Unrecaptured | |||||||||||||||||
| Payment | Distribution per | Total Distribution | Ordinary | 2012 Qualified | Capital Gain | Section 1250 | ||||||||||||||
| Record Date | Date | Share | Allocable to 2012 | Dividends | Dividends | Distribution | Gain | |||||||||||||
| Series K Preferred Shares (CUSIP# 22002T801) | ||||||||||||||||||||
| 3/31/2012 | 4/16/2012 | $ | 0.7000 | $ | 0.7000 | $ | 0.7000 | $ | - | $ | - | $ | - | |||||||
| 6/29/2012 | 7/16/2012 | $ | 0.7000 | $ | 0.7000 | $ | 0.7000 | $ | - | $ | - | $ | - | |||||||
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