BETHESDA, Md., Jan. 16, 2014 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust (REIT), announced today the income tax treatment for its 2013 dividends. The Company declared and paid four quarterly dividends totaling $1.44 per share of Common Stock during 2013. For tax purposes, 67.0% of the dividends ($0.9648 per common share) are characterized as ordinary income and 33.0% of the dividends ($0.4752 per common share) are characterized as return of capital.
On February 12, 2013, the Company closed on an underwriting of 6.875% Series C Cumulative Redeemable Preferred Stock and subsequently redeemed 60% of its 8% Series A Preferred Stock and 100% of its 9% Series B Preferred Stock. As a result of the new issuance and redemptions, the Company declared and paid two dividends totaling $0.8389 per redeemed depositary share and four dividends totaling $2.00 for the remaining depositary shares on its 8% Series A Preferred Stock during 2013. The Company declared and paid two dividends totaling $0.989 per depositary share on its 9% Series B Preferred Stock during 2013. The Company declared and paid three dividends totaling $1.088545 per depositary share on its 6.875% Series C Preferred Stock during 2013. For tax purposes, 100.0% of all the Preferred Stock dividends are characterized as ordinary income. The information will be reported to shareholders on Form 1099-DIV.
Saul Centers is a self-managed, self-administered equity real estate investment trust headquartered in Bethesda, Maryland. Saul Centers currently operates and manages a real estate portfolio of 59 community and neighborhood shopping center and mixed-use properties totaling approximately 9.3 million square feet of leasable area. Approximately 85% of the Company's cash flow is generated from properties in the metropolitan Washington, DC/Baltimore area.
More information about Saul Centers, Inc. is available on the Company's website at www.SaulCenters.com.
SOURCE Saul Centers, Inc.