SYS-CON MEDIA Authors: Roberto Medrano, Dmitriy Stepanov, Gilad Parann-Nissany, Srinivasan Sundara Rajan, Sean Houghton

News Feed Item

First Industrial Realty Trust Reports Tax Treatment of Common Stock and Preferred Stock Distributions

CHICAGO, Jan. 23, 2014 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading owner, operator and developer of industrial real estate, today reported the tax treatment of its 2013 distributions. 

(Logo: http://photos.prnewswire.com/prnh/20040106/FRLOGO)

For tax purposes, 100 percent of the Company's 2013 common stock distributions represented ordinary dividends. 

Approximately 63 percent of the common stock distributions with a record date of December 31, 2013 that were paid on January 21, 2014 are allocable to 2013 for federal income tax purposes.    

For tax purposes, 100 percent of the Company's 2013 preferred stock distributions for its Series J Cumulative Redeemable Preferred Stock and its Series K Cumulative Redeemable Preferred Stock represented ordinary dividends.  The Company redeemed the outstanding depositary shares of both its Series J and its Series K Cumulative Redeemable Preferred Stock in 2013.

This release is based on the preliminary results of work on the Company's tax filings and may be subject to correction or adjustment when the filings are completed.  However, no material change in the information reported is expected.  Shareholders should consult with their tax advisors as to their specific tax treatment.

The tables below summarize the income tax treatment of the Company's distributions.

Common











Declaration Date

Record Date

Payable Date


 Total Distributions Per Share 

 Total Distribution Allocable to 2013 

 2013 Total Ordinary Dividends 

 2013 Qualified Dividends (1) 

 2013 Total Capital Gain Distributions 

 2013 Unrecaptured Section 1250 Gain (2) 

 2013 Return of Capital (Nondividend Distributions) 

2/20/2013

3/28/2013

4/15/2013


$0.085000

$0.085000

$0.085000

$0.000000

$0.000000

$0.000000

$0.000000

5/9/2013

6/28/2013

7/15/2013


$0.085000

$0.085000

$0.085000

$0.000000

$0.000000

$0.000000

$0.000000

8/7/2013

9/30/2013

10/21/2013


$0.085000

$0.085000

$0.085000

$0.000000

$0.000000

$0.000000

$0.000000

11/12/2013

12/31/2013

1/21/2014


$0.085000

$0.053837

$0.053837

$0.000000

$0.000000

$0.000000

$0.000000













Total



$0.340000

$0.308837

$0.308837

$0.000000

$0.000000

$0.000000

$0.000000

Form 1099-DIV Box





1a

1b

2a

2b

3












Preferred

Series J Cumulative Redeemable Preferred Stock

















Declaration Date

Record Date

Payable Date


 Total Distributions Per Share 

 Total Distribution Allocable to 2013 

 2013 Total Ordinary Dividends 

 2013 Qualified Dividends (1) 

 2013 Total Capital Gain Distributions 

 2013 Unrecaptured Section 1250 Gain (2) 

 2013 Return of Capital (Nondividend Distributions) 

2/20/2013

3/15/2013

4/1/2013


$0.453130

$0.453130

$0.453130

$0.000000

$0.000000

$0.000000

$0.000000

3/11/2013


4/11/2013


$0.055382

$0.055382

$0.055382

$0.000000

$0.000000

$0.000000

$0.000000













Total



$0.508512

$0.508512

$0.508512

$0.000000

$0.000000

$0.000000

$0.000000

Form 1099-DIV Box





1a

1b

2a

2b

3























Preferred

Series K Cumulative Redeemable Preferred Stock






Declaration Date

Record Date

Payable Date


 Total Distributions Per Share 

 Total Distribution Allocable to 2013 

 2013 Total Ordinary Dividends 

 2013 Qualified Dividends (1) 

 2013 Total Capital Gain Distributions 

 2013 Unrecaptured Section 1250 Gain (2) 

 2013 Return of Capital (Nondividend Distributions) 

2/20/2013

3/15/2013

4/1/2013


$0.453130

$0.453130

$0.453130

$0.000000

$0.000000

$0.000000

$0.000000

5/9/2013

6/14/2013

7/1/2013


$0.453130

$0.453130

$0.453130

$0.000000

$0.000000

$0.000000

$0.000000

6/14/2013


7/18/2013


$0.090625

$0.090625

$0.090625

$0.000000

$0.000000

$0.000000

$0.000000













Total



$0.996885

$0.996885

$0.996885

$0.000000

$0.000000

$0.000000

$0.000000

Form 1099-DIV Box





1a

1b

2a

2b

3












(1)  Qualified Dividends (Box 1b) are a subset of, and are included in, the Total Ordinary Dividends reported in Box 1a.



(2)  Unrecaptured Section 1250 Gain (Box 2b) is a subset of, and is included in, the Total Capital Gain Distributions reported in Box 2a.





About First Industrial Realty Trust, Inc.

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers.  Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.  In total, we own, manage and have under development approximately 66.8 million square feet of industrial space as of September 30, 2013.  For more information, please visit us at www.firstindustrial.com

Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "believe," "expect," "intend," "plan," "anticipate," "estimate," "project," "seek," "target," "potential," "focus," "may," "should" or similar expressions. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a materially adverse effect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically; changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities; our ability to qualify and maintain our status as a real estate investment trust; the availability and attractiveness of financing (including both public and private capital) to us and to our potential counterparties; the availability and attractiveness of terms of additional debt repurchases; interest rates; our credit agency ratings; our ability to comply with applicable financial covenants; competition; changes in supply and demand for industrial properties (including land, the supply and demand for which is inherently more volatile than other types of industrial property) in the Company's current and proposed market areas; difficulties in consummating acquisitions and dispositions; risks related to our investments in properties through joint ventures; environmental liabilities; slippages in development or lease-up schedules; tenant creditworthiness; higher-than-expected costs; changes in asset valuations and related impairment charges; changes in general accounting principles, policies and guidelines applicable to real estate investment trusts; international business risks; and those additional factors described under the heading "Risk Factors" and elsewhere in the Company's annual report on Form 10-K for the year ended December 31, 2012 and in the Company's subsequent Exchange Act reports. We caution you not to place undue reliance on forward-looking statements, which reflect our outlook only and speak only as of the date of this press release or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements. For further information on these and other factors that could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission.

SOURCE First Industrial Realty Trust, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.