FCPT Announces Tax Treatment of 2023 Distributions

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Four Corners Property Trust, Inc. (FCPT) has announced the tax characterization of its 2023 common stock distributions. The total distribution for the year was $1.3600 per share, with $1.2080 being ordinary taxable dividends and $0.1520 being a return of capital. Shareholders are advised to consult with their tax advisors regarding the specific tax treatment related to FCPT common stock dividends.

MILL VALLEY, Calif.--(BUSINESS WIRE)-- Four Corners Property Trust, Inc. (NYSE: FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today the tax characterization of its 2023 common stock distributions as shown below.

Record Date	Payment Date	Total Distribution ($ per share)	Form 1099 Box 1a Ordinary Taxable Dividend ($ per share)	Form 1099 Box 1b Qualified Taxable Dividend (1) ($ per share)	Form 1099 Box 3 Return of Capital ($ per share)	Form 1099 Box 5 Section 199A Dividends ($ per share)
12/30/2022	1/13/2023	$0.3400	$0.3020	-	$0.0380	$0.3020
3/31/2023	4/14/2023	$0.3400	$0.3020	-	$0.0380	$0.3020
6/30/2023	7/14/2023	$0.3400	$0.3020	-	$0.0380	$0.3020
9/29/2023	10/13/2023	$0.3400	$0.3020	-	$0.0380	$0.3020
Totals		$1.3600	$1.2080	-	$0.1520	$1.2080

(1) Qualified Taxable Dividends are a subset of, and included in, Ordinary Taxable Dividends.

The common stock dividend of $0.3450 per share that was paid on January 12, 2024 to shareholders of record on December 29, 2023 will be applicable to the 2024 tax year.

If you held common stock of FCPT in your name at any time during 2023, an IRS Form 1099-DIV will be provided to you by Broadridge Corporate Issuer Solutions, FCPT’s transfer agent during 2023. If you held shares in "street name" during 2023, the IRS form provided by your bank, brokerage firm or nominee may report only the gross distributions paid to you. Therefore, you may need the information included in this press release to properly complete your federal tax return.

There are many important considerations associated with the taxability of the company’s distributions in 2023. This information has been prepared using the best available information to date. FCPT’s federal income tax return for the year ended December 31, 2023 has not yet been filed. Please note that federal tax laws affect taxpayers differently, and we cannot advise you on how distributions should be reported on your federal income tax return. Also note that state and local taxation of REIT distributions vary and may not be the same as the taxation under the federal rules. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment related to FCPT common stock dividends.

About FCPT:

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240122016505/en/

Four Corners Property Trust:

Gerry Morgan, 415-965-8032

CFO

Source: Four Corners Property Trust, Inc.

FAQ

What is the ticker symbol for Four Corners Property Trust, Inc.?

The ticker symbol for Four Corners Property Trust, Inc. is FCPT.

What is the total distribution per share for FCPT in 2023?

The total distribution per share for FCPT in 2023 was $1.3600.

What portion of the total distribution was classified as ordinary taxable dividends in 2023?

The portion of the total distribution classified as ordinary taxable dividends in 2023 was $1.2080 per share.

What should shareholders do regarding the tax treatment of FCPT common stock dividends?

Shareholders are advised to consult with their tax advisors regarding the specific tax treatment related to FCPT common stock dividends.