Business & Finance
Business and Finance
Business and Finance
Tue, January 20, 2009Mon, January 19, 2009Fri, January 16, 2009Thu, January 15, 2009Wed, January 14, 2009Tue, January 13, 2009Mon, January 12, 2009Sun, January 11, 2009Fri, January 9, 2009Thu, January 8, 2009Maguire Properties Announces Tax Treatment of 2008 Distributions
Published in Business and Finance on Wednesday, January 14th 2009 at 6:17 GMT, Last Modified on 2009-01-14 06:18:43 by Market Wire
LOS ANGELES--([ BUSINESS WIRE ])--Maguire Properties, Inc. (NYSE: MPG), a real estate investment trust, today announced the tax treatment (Form 1099) for its 2008 distributions as described in the charts below. Stockholders are encouraged to consult with their personal tax advisors as to their specific treatment of Maguire Properties distributions.
Common Stock (MPG):
| 2008 | 2008 | ||||||||||||||||||||||||||||
| Total | Taxable | 2008 | Unrecaptured | 2008 | |||||||||||||||||||||||||
| Record | Payment | Distribution | Ordinary | Total Capital | Section 1250 | Return of | |||||||||||||||||||||||
Date | Date | Paid Per Share | Dividend | Gain Distribution | Gain | Capital | |||||||||||||||||||||||
| 12/31/07 | 01/31/08 | $ | 0.4000 | $ | 0.0000 | $ | 0.0000 | $ | 0.0000 | $ | 0.4000 | ||||||||||||||||||
Because the Company has elected to be taxed as a real estate investment trust, the dividends do not qualify for the dividend received deduction for corporate stockholders.
Series A Preferred Stock (MPG PR A):
| 2008 | 2008 | ||||||||||||||||||||||||||||
| Total | Taxable | 2008 | Unrecaptured | 2008 | |||||||||||||||||||||||||
| Record | Payment | Distribution | Ordinary | Total Capital | Section 1250 | Return of | |||||||||||||||||||||||
Date | Date | Paid Per Share | Dividend | Gain Distribution | Gain | Capital | |||||||||||||||||||||||
| 04/11/08 | 04/30/08 | $ | 0.4766 | $ | 0.0000 | $ | 0.0000 | $ | 0.0000 | $ | 0.4766 | ||||||||||||||||||
| 07/11/08 | 07/31/08 | $ | 0.4766 | $ | 0.0000 | $ | 0.0000 | $ | 0.0000 | $ | 0.4766 | ||||||||||||||||||
| 10/10/08 | 10/31/08 | $ | 0.4766 | $ | 0.0000 | $ | 0.0000 | $ | 0.0000 | $ | 0.4766 | ||||||||||||||||||
| $ | 1.4298 | $ | 0.0000 | $ | 0.0000 | $ | 0.0000 | $ | 1.4298 | ||||||||||||||||||||
Because the Company has elected to be taxed as a real estate investment trust, the dividends do not qualify for the dividend received deduction for corporate stockholders.
About Maguire Properties, Inc.
Maguire Properties, Inc. is the largest owner and operator of Class A office properties in the Los Angeles central business district and is primarily focused on owning and operating high-quality office properties in the Southern California market. Maguire Properties, Inc. is a full-service real estate company with substantial in-house expertise and resources in property management, marketing, leasing, acquisitions, development and financing. For more information on Maguire Properties, visit our website at [ www.maguireproperties.com ].
Business Risks
This press release contains forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases at favorable rates, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); risks associated with the availability and terms of financing and the use of debt to fund acquisitions and developments; risks associated with the potential failure to manage effectively the Company's growth and expansion into new markets, to complete acquisitions or to integrate acquisitions successfully; risks and uncertainties affecting property development and construction; risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets; risks associated with joint ventures; potential liability for uninsured losses and environmental contamination; risks associated with the Company's potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the Company's dependence on key personnel whose continued service is not guaranteed.
For a further list and description of such risks and uncertainties, see our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on April 28, 2008. The Company does not update forward-looking statements and disclaims any intention or obligation to update or revise them, whether as a result of new information, future events or otherwise.
