Getty Realty Corp. Announces 2023 Dividend Tax Treatment
Getty Realty Corp. (GTY) has announced the allocations of the Company’s 2023 dividend distributions on its common stock (NYSE: GTY). The total distributions per share for 2023 are $1.720000, with $1.250484 as total ordinary income and $0.469516 as nondividend distributions. The record dates and payable dates for each distribution are also provided in the press release. It is important to note that the information provided should not be considered as tax advice and individuals are advised to consult their tax advisor for specific tax consequences.
Understanding the tax implications of dividend distributions is crucial for investors. The allocation of Getty Realty Corp.'s dividend distributions between ordinary income and nondividend distributions is significant. The portion classified as ordinary income is likely subject to the investor's ordinary income tax rate, whereas the nondividend distributions might be a return of capital. This could reduce the investor's cost basis in the stock and potentially defer taxes until the stock is sold. It's imperative for shareholders to consult with a tax professional to understand their personal tax situation, especially since this allocation can affect their after-tax return on investment.
The announcement from Getty Realty Corp. regarding its dividend distributions provides insight into the company's financial health and capital allocation strategy. A steady stream of dividends can be a sign of financial stability and a commitment to returning value to shareholders. The absence of capital gains distributions suggests that the company did not realize significant capital gains from the sale of assets during the year. For income-focused investors, the predictability of these dividends is attractive and the lack of capital gains distributions could imply a focus on long-term asset appreciation over short-term gains. However, the sustainability of these dividends should be monitored, particularly in relation to the company's earnings and payout ratio.
The real estate investment trust (REIT) sector, where Getty Realty Corp. operates, typically offers dividends that are higher than the average market yield, making them a popular choice among income investors. The allocation of dividends to ordinary income and nondividend distributions is common in REITs due to their unique structure and tax treatment. Investors might compare these distributions to industry norms to assess Getty Realty's performance. If the nondividend distributions are consistently high, it could indicate that the company is returning capital rather than generating sufficient income, which might warrant further analysis of the company's revenue-generating capabilities and long-term growth prospects.
01/17/2024 - 08:00 AM
NEW YORK, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today the allocations of the Company’s 2023 dividend distributions on its common stock (CUSIP #374297109). The allocations as they will be reported on Form 1099-DIV are as follows:
Ordinary Capital Gains Payable Total 2021 Total Total Unrecapt’d Sec Nondividend 12/22/2022 1/5/2023 $ 0.430000 $ 0.312621 $ - $ - $ 0.117379 3/23/2023 4/6/2023 $ 0.430000 $ 0.312621 $ - $ - $ 0.117379 6/22/2023 7/6/2023 $ 0.430000 $ 0.312621 $ - $ - $ 0.117379 9/28/2023 10/12/2023 $ 0.430000 $ 0.312621 $ - $ - $ 0.117379 Totals $ 1.720000 $ 1.250484 $ - $ - $ 0.469516
The information above should not be construed as tax advice and is not a substitute for careful tax planning and analysis. You should consult your own tax advisor regarding the specific federal, state, local, foreign and other tax consequences to you regarding your ownership of shares of the Company's common stock.
About Getty Realty Corp.
Getty Realty Corp. is a publicly traded, net lease REIT specializing in the acquisition, financing and development of convenience, automotive and other single tenant retail real estate. As of December 31, 2023, the Company’s portfolio included 1,093 freestanding properties located in 40 states across the United States and Washington, D.C.
Contact: Investor Relations (646) 349-0598 ir@gettyrealty.com
What is the ticker symbol for Getty Realty Corp.?
The ticker symbol for Getty Realty Corp. is GTY.
What are the allocations of Getty Realty Corp.'s 2023 dividend distributions on its common stock?
The total distributions per share for 2023 are $1.720000, with $1.250484 as total ordinary income and $0.469516 as nondividend distributions.
Should the information provided in the press release be considered as tax advice?
No, the information provided should not be construed as tax advice. Individuals are advised to consult their tax advisor for specific tax consequences.
GTY Rankings
#3119 Ranked by Stock Gains
GTY Stock Data
Industry
Lessors of Nonresidential Buildings (except Miniwarehouses)
Sector
Real Estate and Rental and Leasing
Tags
Finance, Real Estate Investment Trusts, Real Estate and Rental and Leasing, Lessors of Nonresidential Buildings (except Miniwarehouses)
About GTY
getty realty corp. (nyse: gty) is the leading publicly-traded real estate investment trust (“reit”) in the united states specializing in the ownership, leasing and financing of convenience store and gasoline station properties. our 932 properties are located in 30 states across the united states and washington, d.c. and are operated under a variety of brands including 76, aloha, bp, citgo, conoco, exxon, getty, mobil, shell, sunoco and valero. our net lease properties consists of 817 properties leased under 25 separate unitary or master triple-net leases and 101 properties leased under single unit triple-net leases. we are also actively redeveloping nine of our former convenience store and gasoline station properties either as a new convenience store or for alternative single-tenant net lease retail uses.
