Saul Centers, Inc. Announces Tax Treatment of 2024 Dividends

Rhea-AI Summary

Saul Centers (NYSE: BFS) has disclosed the tax treatment of its 2024 dividends. The REIT paid four quarterly dividends on Common Stock totaling $2.36 per share, with 71.66% ($1.69 per share) classified as ordinary income and 28.34% ($0.67 per share) as return of capital.

For preferred stock, the company paid four dividends totaling $1.53125 per depositary share on Series D (6.125%) and $1.50000 per depositary share on Series E (6.000%), with 100% characterized as ordinary income. All dividend information will be reported on Form 1099-DIV as section 199A dividends.

The company currently manages 62 properties, including 58 community and neighborhood shopping centers and mixed-use properties with approximately 10.2 million square feet of leasable area, plus four land and development properties. Over 85% of property operating income comes from the Washington, DC/Baltimore metropolitan area.

Positive

• Maintained consistent quarterly dividend payments throughout 2024
• Substantial portfolio of 62 properties with 10.2M sq ft of leasable area
• Strong regional concentration with 85% of operating income from DC/Baltimore area

Negative

• None.

BETHESDA, Md., Jan. 23, 2025 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS), an equity real estate investment trust (REIT), announced today the income tax treatment of its 2024 dividends. During 2024, the Company declared and paid four quarterly dividends on its Common Stock totaling $2.36 per common share. For tax purposes, 71.66% of the dividends ($1.69 per common share) are characterized as ordinary income and 28.34% of the dividends ($0.67 per common share) are characterized as return of capital. The information will be reported to shareholders on Form 1099-DIV and the ordinary income portion will be reported as section 199A dividends.

During 2024, the Company declared and paid the following dividends on its preferred stock:

• Four dividends totaling $1.53125 per depositary share on its 6.125% Series D Preferred Stock; and
• Four dividends totaling $1.50000 per depositary share on its 6.000% Series E Preferred Stock

For tax purposes, 100.0% of the Preferred Stock dividends are characterized as ordinary income. The information will be reported to shareholders on Form 1099-DIV and will be reported as section 199A dividends.

Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 62 properties which includes (a) 58 community and neighborhood shopping centers and mixed-use properties with approximately 10.2 million square feet of leasable area and (b) four land and development properties. Over 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.

More information about Saul Centers, Inc. is available on the Company's website at www.SaulCenters.com.

View original content:https://www.prnewswire.com/news-releases/saul-centers-inc-announces-tax-treatment-of-2024-dividends-302358792.html

SOURCE Saul Centers, Inc.

FAQ

What is the total dividend per share paid by BFS for common stock in 2024?

Saul Centers paid total dividends of $2.36 per common share in 2024, distributed across four quarterly payments.

How much of BFS's 2024 common stock dividend is classified as ordinary income?

71.66% of the dividends ($1.69 per common share) are characterized as ordinary income.

What is the return of capital portion of BFS's 2024 common stock dividend?

28.34% of the dividends ($0.67 per common share) are characterized as return of capital.

What are the dividend rates for BFS's Series D and E Preferred Stock in 2024?

Series D Preferred Stock paid $1.53125 per depositary share (6.125%), while Series E paid $1.50000 per depositary share (6.000%).

What percentage of BFS's property operating income comes from the DC/Baltimore area?

Over 85% of Saul Centers' property operating income is generated from properties in the metropolitan Washington, DC/Baltimore area.