Elme Communities Announces Income Tax Treatment of Its 2024 Dividend Distribution
Rhea-AI Summary
Elme Communities (NYSE:ELME) has disclosed the income tax treatment of its 2024 dividend distributions. The company paid a total dividend of $0.72 per share throughout 2024, distributed in four quarterly payments of $0.18 each on January 4, April 3, July 3, and October 3.
The tax breakdown of each dividend payment consists of: 10.616% Ordinary Taxable Income ($0.01911), 10.616% Section 199A Dividends ($0.01911), 10.547% Capital Gains ($0.01898), and 78.837% Return of Capital ($0.14191).
Elme Communities is a multifamily REIT that owns and operates approximately 9,400 apartment homes in the Washington, DC and Atlanta metro regions, along with about 300,000 square feet of commercial space.
Positive
- 78.837% of dividend classified as Return of Capital, which is tax-advantaged for shareholders
- Consistent quarterly dividend payments of $0.18 per share maintained throughout 2024
- Portfolio of 9,400 apartment homes and 300,000 square feet of commercial space provides stable income base
Negative
- Only 21.163% of dividend distribution represents actual taxable earnings (combined ordinary income and capital gains)
- High return of capital percentage might indicate dividends not fully covered by earnings
News Market Reaction – ELME
On the day this news was published, ELME declined 0.74%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
BETHESDA, Md., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Elme Communities (NYSE:ELME) announced the income tax treatment of its 2024 dividend distributions. This information represents final income allocations. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Elme Communities dividend distributions. Beginning in 2018, Ordinary Taxable Income Per Share is equal to the 199A dividend that was created by the 2017 Tax Cuts and Jobs Act.
| Dividend Paid Date | Gross Distribution Per Share | Ordinary Taxable Income Per Share | Section 199A Dividends Per Share | Capital Gains Per Share | (Return of Capital) Non-Taxable Distribution Per Share |
| 1/4/2024 | |||||
| 4/3/2024 | |||||
| 7/3/2024 | |||||
| 10/3/2024 | |||||
| TOTALS: | $0.72000 | $0.07644 | $0.07644 | $0.07592 | $0.56764 |
| 100.00% | 10.616% | 10.616% | 10.547% | 78.837% |
About Elme Communities
Elme Communities is committed to elevating what home can be by providing a higher level of quality, service, and experience. The company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space. Focused on providing quality, affordable homes to a deep, solid, and underserved base of mid-market demand, Elme Communities is building long-term value for shareholders.
Contact:
Investor Relations
Amy Hopkins
202-774-3253
ahopkins@elmecommunities.com
FAQ
What is the total dividend amount paid by ELME for 2024?
How much of ELME's 2024 dividend is classified as Return of Capital?
What are the dividend payment dates for ELME in 2024?
What percentage of ELME's 2024 dividend is considered Section 199A Dividends?
How much of ELME's 2024 dividend is taxed as Capital Gains?
