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Taubman Centers Announces Taxable Allocations of 2012 Common and Preferred Share Dividend Distributions

2013-01-11 15:37 ET - News Release

BLOOMFIELD HILLS, Mich., Jan. 11, 2013 /PRNewswire/ -- Taubman Centers, Inc. (NYSE:  TCO) announced today the tax allocations of the 2012 dividend distributions on its common shares and on its 8% Series G, 7.625% Series H, and 6.5% Series J Cumulative Redeemable Preferred Shares.           

(Logo: http://photos.prnewswire.com/prnh/20080428/CLM116LOGO )

The 2012 distributions paid with respect to Taubman Centers, Inc. Common Stock (NYSE:  TCO/Cusip no. 876664103) are as follows:

 

Declaration Date

Record Date

Payable Date

Gross Distribution

Ordinary Dividend Percent

Return of Capital Percent

15% Rate Long Term Capital Gain Percent

Unrecaptured Sec. 1250
Capital Gain Percent

03/01/12

03/15/12

03/30/12

0.46250

70.652%

29.348%

0%

0%

06/07/12

06/18/12

06/29/12

0.46250

70.652%

29.348%

0%

0%

09/05/12

09/17/12

09/28/12

0.46250

70.652%

29.348%

0%

0%

11/30/12

12/17/12

12/31/12

0.46250

70.652%

29.348%

0%

0%

2012 TOTALS PER SHARE

1.85000

70.652%

29.348%

0%

0%

 

  • 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 Shareowner's Services 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 2012, Taubman Centers, Inc. had no distributions to common stock holders allocable as qualified dividends.  
  • Taxability of the 2012 common dividend is not indicative of the taxability of future dividends.

The 2012 distributions paid with respect to Taubman Centers, Inc.  Series G Preferred Stock (NYSE:  TCO PrG/Cusip no. 876664301) are as follows:

 

Declaration Date

Record Date

Payable Date

Gross Distribution

Ordinary Dividend Percent

Return of Capital Percent

15% Rate
Long Term
Capital Gain
Percent

Unrecaptured Sec. 1250
Capital Gain Percent

03/01/12

03/15/12

03/30/12

0.5000000

100%

0%

0%

0%

06/07/12

06/18/12

06/29/12

0.5000000

100%

0%

0%

0%

08/03/12

09/04/12

09/04/12

0.3500000

100%

0%

0%

0%

2012 TOTALS PER SHARE

1.3500000

100%

0%

0%

0%

 

  • For 2012, Taubman Centers, Inc. had no distributions to Series G Preferred Stock holders allocable as qualified dividends.   
  • The Company redeemed all 4,000,000 shares of its outstanding Series G Preferred Shares on September 4, 2012 for $25 per share and paid to all holders of the Series G Preferred Shares $0.35 per share in accrued dividends, which are reported above as a 2012 dividend payment.  The redemption of the Series G Preferred Stock was a full redemption.  The appropriate income tax treatment of the $25 per share redemption payment (whether capital gain or loss from the sale or exchange of stock or ordinary income from a dividend payment) depends on an individual investor's facts and circumstances.

The 2012 distributions paid with respect to Taubman Centers, Inc. Series H Preferred Stock (NYSE:  TCO PrH/Cusip no. 876664400) are as follows:

 

Declaration Date

Record Date

Payable Date

Gross Distribution

Ordinary Dividend Percent

Return of Capital Percent

15% Rate
Long Term
Capital Gain
Percent

Unrecaptured Sec. 1250
Capital Gain Percent

03/01/12

03/15/12

03/30/12

0.47656250

100%

0%

0%

0%

06/07/12

06/18/12

06/29/12

0.47656250

100%

0%

0%

0%

08/03/12

09/04/12

09/04/12

0.33359375

100%

0%

0%

0%

2012 TOTALS PER SHARE

1.28671875

100%

0%

0%

0%

 

  • For 2012, Taubman Centers, Inc. had no distributions to Series H Preferred Stock holders allocable as qualified dividends.   
  • The Company redeemed all 3,480,000 shares of its outstanding Series H Preferred Shares on September 4, 2012 for $25 per share and paid to all holders of the Series H Preferred Shares $0.33359375 per share in accrued dividends, which are reported above as a 2012 dividend payment.  The redemption of the Series H Preferred Stock was a full redemption.  The appropriate income tax treatment of the $25 per share redemption payment (whether capital gain or loss from the sale or exchange of stock or ordinary income from a dividend payment) depends on an individual investor's facts and circumstances.

The 2012 distributions paid with respect to Taubman Centers, Inc.  Series J Preferred Stock (NYSE:  TCO PrJ/Cusip no. 876664608) are as follows:

 

Declaration Date

Record Date

Payable Date

Gross Distribution

Ordinary Dividend Percent

Return of Capital Percent

15% Rate Long Term Capital Gain Percent

Unrecaptured Sec. 1250 Capital Gain Percent

09/05/12

09/17/12

09/28/12

0.21215278

100%

0%

0%

0%

11/30/12

12/17/12

12/31/12

0.40625000

100%

0%

0%

0%

2012 TOTALS PER SHARE

0.61840278

100%

0%

0%

0%

 

  • For 2012, Taubman Centers, Inc. had no distributions to Series J Preferred Stock holders allocable as qualified dividends.   
  • Taxability of the 2012 dividend to Series J 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.

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 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 Taubman Prestige Outlets Chesterfield in Chesterfield, Missouri; The Mall at University Town Center in Sarasota, Florida; The Mall of San Juan in San Juan, Puerto Rico; and shopping malls in Xi'an, China and Hanam, South Korea.  Taubman Centers is headquartered in Bloomfield Hills, Michigan and Taubman Asia, the platform for Taubman Centers' expansion into China and South Korea, is headquartered in Hong Kong.  Founded in 1950, Taubman has over 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.

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