CubeSmart Announces Tax Allocations of 2024 Distributions
Rhea-AI Summary
CubeSmart (NYSE: CUBE) has released its tax allocation details for 2024 distributions of Common Shares of Beneficial Interest. The company paid four quarterly distributions of $0.51 per share, totaling $2.04 for the year. Each quarterly distribution consisted of $0.485746 in ordinary dividends and $0.024254 in nondividend distributions.
The breakdown of the annual distribution includes $1.942984 in ordinary dividends (Box 1a) and $0.097016 in nondividend distributions (Box 3). The Section 199A dividend amount is $1.942984. No capital gains, unrecaptured Section 1250 gains, or Section 897 capital gains were reported.
The fourth quarter 2024 distribution, made to holders of record as of January 2, 2025, will be considered a 2025 distribution for federal income tax purposes.
Positive
- Consistent quarterly dividend payments of $0.51 per share throughout 2024
- Total annual distribution of $2.04 per share maintained
Negative
- None.
News Market Reaction
On the day this news was published, CUBE declined 1.86%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MALVERN, Pa., Jan. 21, 2025 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) announced today the tax allocations of its 2024 distributions for CubeSmart Common Shares of Beneficial Interest.
The 2024 distributions paid with respect to CubeSmart common stock (CUSIP #229663-109 and traded under ticker symbol CUBE) are as follows:
| Record Date | Payable Date | Total Distribution per Share | Ordinary Dividend (Box 1a) | Total Capital Gain (Box 2a) | Unrecaptured Section 1250 Gain(1) (Box 2b) | Nondividend Distribution (Box 3) | Section 199A Dividend(2) (Box 5) | Section 897 Capital Gains (Box 2f) | ||||||||||||||||||
| 1/2/2024 | 1/16/2024 | $ | 0.51 | $ | 0.485746 | $ | 0.000000 | $ | 0.000000 | $ | 0.024254 | $ | 0.485746 | $ | 0.000000 | |||||||||||
| 4/1/2024 | 4/15/2024 | $ | 0.51 | $ | 0.485746 | $ | 0.000000 | $ | 0.000000 | $ | 0.024254 | $ | 0.485746 | $ | 0.000000 | |||||||||||
| 7/1/2024 | 7/15/2024 | $ | 0.51 | $ | 0.485746 | $ | 0.000000 | $ | 0.000000 | $ | 0.024254 | $ | 0.485746 | $ | 0.000000 | |||||||||||
| 10/1/2024 | 10/15/2024 | $ | 0.51 | $ | 0.485746 | $ | 0.000000 | $ | 0.000000 | $ | 0.024254 | $ | 0.485746 | $ | 0.000000 | |||||||||||
| $ | 2.04 | $ | 1.942984 | $ | 0.000000 | $ | 0.000000 | $ | 0.097016 | $ | 1.942984 | $ | 0.000000 | |||||||||||||
| (1) Amounts in Box 2b are included in Box 2a. | ||||||||||||||||||||||||||
| (2) Amounts in Box 5 are included in Box 1a. | ||||||||||||||||||||||||||
The fourth quarter 2024 distribution made to holders of record of common shares as of January 2, 2025 is considered a 2025 distribution for federal income tax purposes.
Pursuant to Treas. Reg. § 1.1061-6(c), the Company reports that for purposes of section 1061 of the Internal Revenue Code, the One Year Amounts Disclosure and the Three Year Amounts Disclosure are
About CubeSmart
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,528 self-storage properties across the United States. According to the 2024 Self Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the U.S.
The Company’s mission is to simplify the organizational and logistical challenges created by the many life events and business needs of its customers through innovative solutions, unparalleled service, and genuine care. The Company's self-storage properties are designed to offer affordable, easily accessible, and, in most locations, climate-controlled storage space for residential and commercial customers.
For more information about business and personal storage or to learn more about the Company and find a nearby storage facility, visit www.cubesmart.com or call CubeSmart toll free at 800-800-1717.
Company Contact:
Josh Schutzer
Vice President, Finance
(610) 535-5700
FAQ
What is CubeSmart's (CUBE) total dividend distribution for 2024?
How much of CUBE's 2024 distribution is classified as ordinary dividends?
What portion of CUBE's 2024 distributions qualifies as Section 199A dividends?
When will CUBE's Q4 2024 distribution be considered for tax purposes?
What is the nondividend distribution amount for CUBE's 2024 payments?
