CENTERSPACE ANNOUNCES 2024 DIVIDEND ALLOCATIONS

Rhea-AI Summary

Centerspace (NYSE: CSR) has disclosed its tax treatment details for 2024 distributions on common and preferred shares. For common shares, the total distribution was $2.98 per share, comprising $1.24 in ordinary taxable dividends and $1.74 in nondividend distributions. The company paid quarterly dividends of $0.73 (Q1) and $0.75 (Q2-Q4).

For Series C Preferred Shares, CSR distributed $1.24 per share annually, paid in quarterly installments of $0.414 each, all classified as ordinary taxable dividends. Centerspace, founded in 1970, currently owns and operates 71 apartment communities with 13,012 homes across six states including Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

Positive

• Consistent quarterly dividend payments throughout 2024
• Large portfolio of 13,012 homes across 71 apartment communities
• Geographic diversification across six states

Negative

• None.

News Market Reaction

-0.20%

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-0.20% News Effect

On the day this news was published, CSR declined 0.20%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MINNEAPOLIS, Jan. 23, 2025 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today the tax treatment (Form 1099-DIV) for calendar year 2024 distributions on its common and preferred shares of beneficial interest. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment of their Centerspace distributions.

Security Description	Record Date		Payable Date		Cash Distribution Per Share	Box 1a Ordinary Taxable Dividend	Box 1b Qualified Dividend (1)		Box 2a Long-Term Capital Gain		Box 2b Unrecaptured Sec. 1250 Gain (2)		Box 3 Nondividend Distribution	Box 5 Section 199A Dividend (1)
Common Shares	12/29/23		01/12/24		$0.7300000	$0.3044544	$0.0000000		$0.0000000		$0.0000000		$0.4255456	$0.3044544
	03/28/24		04/08/24		$0.7500000	$0.3127957	$0.0000000		$0.0000000		$0.0000000		$0.4372043	$0.3127957
CUSIP: 15202L107	06/28/24		07/10/24		$0.7500000	$0.3127957	$0.0000000		$0.0000000		$0.0000000		$0.4372043	$0.3127957
Symbol: CSR	09/30/24		10/10/24		$0.7500000	$0.3127957	$0.0000000		$0.0000000		$0.0000000		$0.4372043	$0.3127957
					$2.9800000	$1.2428415	$0.0000000		$0.0000000		$0.0000000		$1.7371585	$1.2428415

Security Description	Record Date		Payable Date		Cash Distribution Per Share	Box 1a Ordinary Taxable Dividend	Box 1b Qualified Dividend (1)		Box 2a Long-Term Capital Gain		Box 2b Unrecaptured Sec. 1250 Gain (2)		Box 3 Nondividend Distribution	Box 5  Section 199A Dividend (1)
Series C Preferred	03/15/24		03/28/24		$0.4140625	$0.4140625	$0.0000000		$0.0000000		$0.0000000		$0.0000000	$0.4140625
Shares	06/14/24		06/28/24		$0.4140625	$0.4140625	$0.0000000		$0.0000000		$0.0000000		$0.0000000	$0.4140625
CUSIP: 15202L206	09/16/24		09/30/24		$0.4140625	$0.4140625	$0.0000000		$0.0000000		$0.0000000		$0.0000000	$0.4140625
Symbol: CSR PRC
					$1.2421875	$1.2421875	$0.0000000		$0.0000000		$0.0000000		$0.0000000	$1.2421875

(1)   These amounts are a subset of, and included in, the amounts in Box 1a.
(2)   These amounts are a subset of, and included in, the amounts in Box 2a.

About Centerspace 
Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, the company currently owns 71 apartment communities consisting of 13,012 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a top workplace for the fifth consecutive year in 2024 by the Minneapolis Star Tribune. For more information, please visit www.centerspacehomes.com.

If you would like more information about this topic, please contact Josh Klaetsch, Investor Relations, at (952) 401-6600 or IR@centerspacehomes.com.

Contact Information
Josh Klaetsch, Investor Relations
Phone : (952) 401-6600
E-mail : IR@centerspacehomes.com

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SOURCE Centerspace

FAQ

What is Centerspace's (CSR) total dividend distribution for common shares in 2024?

Centerspace's total dividend distribution for common shares in 2024 was $2.98 per share, paid quarterly with $0.73 in Q1 and $0.75 in Q2-Q4.

How much of CSR's 2024 common share distribution is classified as ordinary taxable dividend?

Of the total $2.98 distribution, $1.24 (approximately 41.7%) was classified as ordinary taxable dividend.

What is the dividend structure for Centerspace's Series C Preferred Shares in 2024?

Series C Preferred Shares received quarterly payments of $0.414 per share, totaling $1.24 annually, all classified as ordinary taxable dividends.

How many apartment communities does Centerspace (CSR) own as of 2024?

Centerspace owns 71 apartment communities consisting of 13,012 homes across six states.

Which states does Centerspace (CSR) operate in as of 2024?

Centerspace operates in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.