Business & Finance
Business and Finance
Business and Finance 
Wed, January 21, 2009
Tue, January 20, 2009
CBL & Associates Properties Announces Tax Reporting Information for 2008 Common and Preferred Share Distributions
CHATTANOOGA, Tenn.--([ BUSINESS WIRE ])--CBL & Associates Properties, Inc. (NYSE: CBL) today announced the tax reporting (Federal 1099) information for the 2008 distributions on its Common, Series C Preferred, and Series D Preferred shares.
The income tax treatment for the 2008 distributions for CBL & Associates Properties, Inc., Common Stock CUSIP # 124830-10-0 traded on the NYSE under ticker symbol "CBL" is as follows:
| Distribution Type (Form 1099-DIV Box) | |||||||||||||||||||
| Declaration Dates | Record Dates | Payable Dates | Distributions Per Share | Ordinary Taxable Dividend (Box 1a) | Return of Capital / Non-Dividend Distributions (Box 3) | Total Long-Term Capital Gain (Box 2a) | Unrecap. Sec. 1250 Gain (1) (Box 2b) | ||||||||||||
| 02/28/08 | 03/31/08 | 04/14/08 | $ | 0.5450 | $ | 0.4173528 | $ | 0.1240167 | $ | 0.0036305 | $ | - | |||||||
| 06/02/08 | 06/30/08 | 07/15/08 | $ | 0.5450 | $ | 0.4173528 | $ | 0.1240167 | $ | 0.0036305 | $ | - | |||||||
| 09/04/08 | 09/30/08 | 10/15/08 | $ | 0.5450 | $ | 0.4173528 | $ | 0.1240167 | $ | 0.0036305 | $ | - | |||||||
| Totals | $ | 1.6350 | $ | 1.2520584 | $ | 0.3720501 | $ | 0.0108915 | $ | - | |||||||||
| Percentage | 100.000% | 76.579% | 22.755% | 0.666% | 0.000% | ||||||||||||||
| (1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a). | |||||||||||||||||||
No Alternative Minimum Taxable Income ("AMTI") adjustment is included in the current year for the recipients of distributions on the Common shares.
The common stock dividends declared on November 4, 2008 and paid January 14, 2009 will be reported and are taxable in 2009.
The income tax treatment for the 2008 distributions for CBL & Associates Properties, Inc., Series C Preferred Stock CUSIP # 124830-40-7 on the NYSE traded under ticker symbol "CBL-PC" is as follows:
Distribution Type (Form 1099-DIV Box) | ||||||||||||||||
| Declaration Dates | Record Dates | Payable Dates | Distributions Per Share | Ordinary Taxable Dividend (Box 1a) | Total Long-Term Capital Gain (Box 2a) | Unrecap. Sec. 1250 Gain (1) (Box 2b) | ||||||||||
| 02/28/08 | 03/17/08 | 03/31/08 | $ | 0.484375 | $ | 0.4801978 | $ | 0.0041772 | $ | - | ||||||
| 06/02/08 | 06/17/08 | 06/30/08 | $ | 0.484375 | $ | 0.4801978 | $ | 0.0041772 | $ | - | ||||||
| 09/04/08 | 09/16/08 | 09/30/08 | $ | 0.484375 | $ | 0.4801978 | $ | 0.0041772 | $ | - | ||||||
| 11/04/08 | 12/15/08 | 12/30/08 | $ | 0.484375 | $ | 0.4801978 | $ | 0.0041772 | $ | - | ||||||
| Totals | $ | 1.937500 | $ | 1.9207912 | $ | 0.0167088 | $ | - | ||||||||
| Percentage | 100.000% | 99.138% | 0.862% | 0.000% | ||||||||||||
| (1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a). | ||||||||||||||||
No Alternative Minimum Taxable Income ("AMTI") adjustment is included in the current year for the recipients of distributions on the Series C Preferred shares.
The income tax treatment for the 2008 distributions for CBL & Associates Properties, Inc., Series D Preferred Stock CUSIP # 124830-60-5 on the NYSE traded under ticker symbol "CBL-PD" is as follows:
| Distribution Type (Form 1099-DIV Box) | ||||||||||||||||
| Declaration Dates | Record Dates | Payable Dates | Distributions Per Share | Ordinary Taxable Dividend (Box 1a) | Total Long-Term Capital Gain (Box 2a) | Unrecap. Sec. 1250 Gain (1) (Box 2b) | ||||||||||
| 02/28/08 | 03/17/08 | 03/31/08 | $ | 0.4609375 | $ | 0.4569625 | $ | 0.0039750 | $ | - | ||||||
| 06/02/08 | 06/17/08 | 06/30/08 | $ | 0.4609375 | $ | 0.4569625 | $ | 0.0039750 | $ | - | ||||||
| 09/04/08 | 09/16/08 | 09/30/08 | $ | 0.4609375 | $ | 0.4569625 | $ | 0.0039750 | $ | - | ||||||
| 11/04/08 | 12/15/08 | 12/30/08 | $ | 0.4609375 | $ | 0.4569625 | $ | 0.0039750 | $ | - | ||||||
| Totals | $ | 1.8437500 | $ | 1.8278500 | $ | 0.0159000 | $ | - | ||||||||
| Percentage | 100.000% | 99.138% | 0.862% | 0.000% | ||||||||||||
| (1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a). | ||||||||||||||||
No Alternative Minimum Taxable Income ("AMTI") adjustment is included in the current year for the recipients of distributions on the Series D Preferred shares.
None of the dividends above represent "qualified dividend income" and, therefore, are not eligible for reduced rates.
This information represents FINAL income allocations.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 157 properties, including 87 regional malls/open-air centers. The properties are located in 27 states and total 84.6 million square feet including 2.2 million square feet of non-owned shopping centers managed for third parties. CBL currently has nine projects under construction totaling 3.0 million square feet including Settlers Ridge in Pittsburgh, PA; The Pavilion at Port Orange in Port Orange, FL; Hammock Landing in West Melbourne, FL; The Promenade in D'Iberville, MS; two lifestyle/associated centers, and three expansions/redevelopments. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas, TX, and St. Louis, MO. Additional information can be found at [ cblproperties.com ].
Information included herein contains "forward-looking statements" within the meaning of the federal securities laws.Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated.Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements.The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" incorporated by reference therein, for a discussion of such risks and uncertainties.