Saul Centers, Inc. Announces Tax Treatment of 2014 Dividends
BETHESDA, Md., Jan. 15, 2015 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust (REIT), announced today the income tax treatment of its 2014 dividends. The Company declared and paid four quarterly dividends totaling $1.56 per share of Common Stock during 2014. For tax purposes, 100.0% of the dividends ($1.56 per common share) are characterized as ordinary income. The information will be reported to shareholders on Form 1099-DIV.
On November 12, 2014, the Company closed on a new issuance of additional 6.875% Series C Cumulative Redeemable Preferred Stock first issued on February 12, 2013 and subsequently used the proceeds to redeem all of its remaining 8% Series A Preferred Stock. The Company declared and paid four dividends totaling $2.00 per depositary share on its 8% Series A Preferred Stock during 2014 and as a result of the redemption paid an additional dividend of $0.4056 per depositary share on December 12, 2014. The Company declared and paid four dividends totaling $1.71875 per depositary share on its 6.875% Series C Preferred Stock during 2014. 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 REIT headquartered in Bethesda, Maryland. Saul Centers currently operates and manages a real estate portfolio comprised of 59 properties which includes (a) 56 community and neighborhood shopping centers and mixed-use properties with approximately 9.3 million square feet of leasable area and (b) 3 land and development properties. Approximately 85% of the Company's property operating income 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.
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