Preferred Apartment Communities, Inc. Announces Estimated Income Tax Treatment of 2013 Distributions
ATLANTA, Jan. 22, 2014 /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE MKT: APTS) (the "Company") announced today how it expects its 2013 distributions to be classified for federal income tax purposes. Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of these distributions. The estimated distribution classifications are shown on the charts below. 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.
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The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company's distributions. No material change in these classifications is expected.
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Common Stock (CUSIP # 74039L103) | |||||
|
Record Date |
Payment Date |
Cash Distribution Per Share |
Ordinary Dividends Box 1a |
Capital Gain Distribution Box 2a |
Nondividend Distributions Box 3 |
|
3/28/2013 |
4/22/2013 |
$0.145 |
0.0% |
0.0% |
100.0% |
|
6/26/2013 |
7/22/2013 |
$0.15 |
0.0% |
0.0% |
100.0% |
|
9/16/2013 |
10/15/2013 |
$0.15 |
0.0% |
0.0% |
100.0% |
|
12/16/2013 |
1/15/2014 |
$0.16(1) |
0.0% |
0.0% |
100.0% |
|
(1) Note: The Common Stock dividend paid on 1/15/14 is taxable in Year 2013. | |||||
|
Series B Preferred Stock (CUSIP # 74039L 764) | |||||
|
Record Date |
Payment Date |
Cash Distribution Per Share |
Ordinary Dividends Box 1a |
Capital Gain Distribution Box 2a |
Nondividend Distributions Box 3 |
|
3/28/2013 |
4/22/2013 |
$0.145 |
70.22% |
0.0% |
29.78% |
|
Series A Redeemable Preferred Stock | |||||
|
(CUSIP #'s 74039L 202, 74039L 301, 74039L 400, 74039L 707, 74039L 806, 74039L 889, 74039L 871, 74039L 863, 74039L 855, 74039L 848, 74039L 822, 74039L 830, 74039L 814 and 74039L 798, 74039L 780, 74039L 772, 74039L 756, 74039L 749, 74039L 731, 74039L 723, 74039L 715, 74039L 699, 74039L 681, 74039L 673, 74039L 665, 74039L 657, 74039L 640, 74039L 632, 74039L 624, 74039L 616, 74039L 590, 74039L 582, 74039L 574, 74039L 566, 74039L 558, 74039L 541, 74039L 533, 74039C 202) | |||||
|
Record Date |
Payment Date |
Cash Distribution Per Share(1) |
Ordinary Dividends Box 1a |
Capital Gain Distribution Box 2a |
Nondividend Distributions Box 3 |
|
1/31/2013 |
2/20/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
2/28/2013 |
3/20/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
3/29/2013 |
4/22/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
4/30/2013 |
5/20/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
5/31/2013 |
6/20/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
6/28/2013 |
7/22/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
7/31/2013 |
8/20/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
8/30/2013 |
9/20/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
9/30/2013 |
10/21/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
10/31/2013 |
11/20/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
11/29/2013 |
12/20/2013 |
$5.00 |
70.22% |
0.0% |
29.78% |
|
12/31/2013 |
1/21/2014 |
$5.00(2) |
70.22% |
0.0% |
29.78% |
|
(1) Dividend amount shown is for the full month in which the record date occurs. This amount is subject to additional amounts paid on shares of Series A Redeemable Preferred Stock issued in the month prior to the record date for the period from the date of issuance to the end of the month prior to the record date. Notwithstanding the different amounts, the classification for federal income tax purposes is not altered. | |||||
|
(2) Note: The Series A Redeemable Preferred Stock dividend paid on 1/21/14 is taxable in Year 2013. | |||||
About Preferred Apartment Communities, Inc.
Preferred Apartment Communities, Inc. is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make mezzanine loans, provide deposit arrangements, or provide performance assurances, as may be necessary or appropriate, in connection with the construction of multifamily communities and other properties. As a secondary strategy, we also may acquire or originate senior mortgage loans, subordinate loans or mezzanine debt secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets and invest not more than 10% of our total assets in other real estate related investments, as determined by our manager as appropriate for us. Preferred Apartment Communities, Inc. has elected to be taxed as a real estate investment trust under the Internal Revenue Code of 1986, as amended, commencing with its tax year ended December 31, 2011.
SOURCE Preferred Apartment Communities, Inc.
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