LXP Industrial Trust Announces Final 2024 Dividend Allocation

Rhea-AI Summary

LXP Industrial Trust (NYSE: LXP) has released its final dividend allocation details for 2024 for both common and preferred shares. For common shares, the company distributed $0.13 per share quarterly, with each payment consisting of $0.07234 in ordinary dividends, $0.05405 in capital gain distribution, and $0.00361 in nondividend distributions.

For the Series C Cumulative Convertible Preferred Stock, quarterly payments were $0.8125 per share, comprising $0.46503 in ordinary dividends and $0.34747 in capital gain distributions. The company noted that 9.41% of ordinary dividends are reported as Section 897 ordinary dividends related to U.S. Real Property Interests.

Positive

• Consistent quarterly dividend payments maintained throughout 2024
• Substantial preferred stock dividend of $0.8125 per share quarterly
• Includes both ordinary dividends and capital gains distributions, providing tax-advantaged income

Negative

• Small portion of common share distribution ($0.00361) represents return of capital, potentially indicating earnings didn't fully cover dividends

WEST PALM BEACH, Fla., Jan. 21, 2025 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE: LXP), a real estate investment trust (REIT) focused on Class A warehouse and distribution real estate investments, today announced its final 2024 dividend income allocations for both its common and preferred shares as they will be reported on Form 1099-DIV. Additionally, the return of capital on the common shares (Nondividend Distributions in the table below) was reported on Internal Revenue Service Form 8937 pursuant to U.S. tax basis reporting as required under Internal Revenue Code 6045B. A copy of the Internal Revenue Service Form 8937 can be found in the investor’s section on LXP’s website at https://ir.lxp.com/stock-info/tax-documents/form-8937/default.aspx.

Common Shares
Record  Date	Payable  Date	Total Distributions  Per Share		Total Ordinary  Dividends(1)		Qualified  Dividends(2)		Total Capital Gain  Distribution(3)		Unrecaptured Section 1250  Gain(4)		Nondividend  Distributions(5)	Section 199A  Dividends(2)
12/29/2023	01/16/2024	$0.130000		$0.072340		$0.000000		$0.054050		$0.021230		$0.003610	$0.072340
03/28/2024	04/15/2024	$0.130000		$0.072340		$0.000000		$0.054050		$0.021230		$0.003610	$0.072340
06/28/2024	07/15/2024	$0.130000		$0.072340		$0.000000		$0.054050		$0.021230		$0.003610	$0.072340
09/30/2024	10/15/2024	$0.130000		$0.072340		$0.000000		$0.054050		$0.021230		$0.003610	$0.072340
Form 1099 - Div Box				1a		1b		2a		2b		3	5

Series C Cumulative Convertible Preferred Stock
Record  Date	Payable  Date	Total Distributions  Per Share		Total Ordinary  Dividends(1)		Qualified  Dividends(2)		Total Capital Gain  Distributions(3)		Unrecaptured Section 1250  Gain(4)		Nondividend  Distributions(5)	Section 199A  Dividends(2)
01/31/2024	02/15/2024	$0.812500		$0.465030		$0.000000		$0.347470		$0.136500		$0	$0.465030
04/30/2024	05/15/2024	$0.812500		$0.465030		$0.000000		$0.347470		$0.136500		$0	$0.465030
07/31/2024	08/15/2024	$0.812500		$0.465030		$0.000000		$0.347470		$0.136500		$0	$0.465030
10/31/2024	11/15/2024	$0.812500		$0.465030		$0.000000		$0.347470		$0.136500		$0	$0.465030
Form 1099 - Div Box				1a		1b		2a		2b		3	5

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(1)   9.41% of these amounts are also reported as Section 897 ordinary dividends attributable to dispositions of U.S. Real Property Interests (Box 2e).
(2)   Qualified Dividends (Box 1b) and Section 199A Dividends (Box 5) are a subset of, and are included in, the Total Ordinary Dividends reported in Box 1a.
(3)   These amounts are also reported as Section 897 capital gain attributable to dispositions of U.S. Real Property Interests (Box 2f). In addition, for purposes of Section 1061 of the Internal Revenue Code, 100% of the distributions reported as Total Capital Gain Distributions (Box 2a) are from sales of assets that generated Section 1231 gains. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests.”
(4)   Unrecaptured Section 1250 Gain (Box 2b) is a subset of, and included in, the Total Capital Gain Distribution amount reported in Box 2a.
(5)   Return of Capital.

ABOUT LXP INDUSTRIAL TRUST

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in target markets across the Sunbelt and Midwest. LXP seeks to expand its portfolio through acquisitions, development projects, and build-to-suit and sale/leaseback transactions. For more information, or to follow LXP on social media, visit www.lxp.com.

Contact:
Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Executive Vice President of Investor Relations
Phone: (212) 692-7200 E-mail: hgentry@lxp.com

FAQ

What is LXP's quarterly dividend payment for common shares in 2024?

LXP's quarterly dividend payment for common shares in 2024 is $0.13 per share.

How much of LXP's common share dividend is classified as ordinary dividends?

Of the $0.13 quarterly dividend, $0.07234 is classified as ordinary dividends.

What is the quarterly dividend for LXP's Series C Preferred Stock?

LXP's Series C Preferred Stock receives a quarterly dividend of $0.8125 per share.

What percentage of LXP's ordinary dividends are Section 897 dividends?

9.41% of the ordinary dividends are reported as Section 897 dividends attributable to U.S. Real Property Interests.

How much of LXP's common share dividend is return of capital?

The return of capital (Nondividend Distributions) portion is $0.00361 per quarterly dividend.