Taubman Centers Announces Taxable Allocations of 2013 Common and Preferred Share Dividend Distributions

BLOOMFIELD HILLS, Mich., Jan. 14, 2014 /PRNewswire/ -- Taubman Centers, Inc. (NYSE: TCO) announced today the tax allocations of the 2013 dividend distributions on its common shares and 6.5% Series J and 6.25% Series K Cumulative Redeemable Preferred Shares.

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The 2013 distributions paid with respect to Taubman Centers, Inc. Common Stock (NYSE: TCO/Cusip no. 876664103) are as follows:

• Amounts reported to Direct Share Purchase and Dividend Reinvestment Plan participants will differ due to administrative costs. Participants should refer to their Form 1099, which will be mailed in late January, and contact Computershare at (888) 877-2889 for further information.
• The return of capital percentage on common stock dividends is also reported on the Taubman Website at www.taubman.com, pursuant to U.S. tax basis reporting required under Internal Revenue Code Section 6045B.
• For 2013, Taubman Centers, Inc. had no distributions to common stock holders allocable as qualified dividends.
• Taxability of the 2013 common dividend is not indicative of the taxability of future dividends.

The 2013 distributions paid with respect to Taubman Centers, Inc. Series J Preferred Stock (NYSE:  TCO PrJ/Cusip no. 876664608) are as follows:

• For 2013, Taubman Centers, Inc. had no distributions to Series J Preferred Stock holders allocable as qualified dividends.
• Taxability of the 2013 dividend to Series J Preferred Stock holders is not indicative of the taxability of future dividends.

The 2013 distributions paid with respect to Taubman Centers, Inc.  Series K Preferred Stock (NYSE: TCO PrK/Cusip no. 876664707) are as follows:

• Series K Preferred Stock was issued in March 2013.
• The Series K dividend payable on June 28, 2013 is for the period from, and including, March 15, 2013 through June 30, 2013.
• For 2013, Taubman Centers, Inc. had no distributions to Series K Preferred Stock holders allocable as qualified dividends.
• Taxability of the 2013 dividend to Series K Preferred Stock holders is not indicative of the taxability of future dividends.

For additional information, please refer to the Taubman Centers, Inc. website, www.taubman.com or call Mark Godek, Director of Tax Compliance at (248) 258-7667.

About Taubman

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 28 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing The Mall at University Town Center in Sarasota, Fla.; The Mall of San Juan in San Juan, Puerto Rico; International Market Place in Waikiki, Honolulu, Hawaii and shopping malls in Xi'an and Zhengzhou, China and Hanam, South Korea.  Taubman Centers is headquartered in Bloomfield Hills, Mich. and Taubman Asia, the platform for Taubman Centers' expansion into China and South Korea, is headquartered in Hong Kong.  Founded in 1950, Taubman has more than 60 years of experience in the shopping center industry.  For more information about Taubman, visit www.taubman.com.

For ease of use, references in this press release to "Taubman Centers," "company," "Taubman" or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.  You should review the company's filings with the Securities and Exchange Commission, including "Risk Factors" in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

SOURCE Taubman Centers, Inc.