NNN REIT, Inc. Announces 2024 Dividend Tax Status

Rhea-AI Summary

NNN REIT has announced the tax classification of its 2024 dividends paid to common shareholders. 99.8471% of the dividends are classified as taxable distributions. The total dividend paid was $2.29 per share, with $2.286498 classified as ordinary dividends and $0.003502 as non-taxable distributions. The ordinary dividends qualify for the 20% qualified business income deduction under Section 199A.

This dividend payment marks the thirty-fifth consecutive annual dividend increase for NNN REIT. As of September 30, 2024, the company owned 3,549 properties across 49 states, comprising approximately 36.6 million square feet of gross leasable area, with a weighted average remaining lease term of 10.0 years.

Positive

• 35 consecutive years of dividend increases demonstrating consistent growth
• Large portfolio of 3,549 properties across 49 states
• Long-term stability with 10.0-year weighted average remaining lease term
• 99.8471% of dividends qualify for 20% qualified business income deduction

Negative

• None.

ORLANDO, Fla., Jan. 14, 2025 /PRNewswire/ -- NNN REIT, Inc. (NYSE: NNN), a real estate investment trust, today announced that 99.8471% of the dividends paid to common shareholders in 2024 are classified for federal income tax purposes as a taxable distribution. The tax attributes of the dividends paid per share are outlined below.

		Total Dividend		Ordinary Dividends (Box 1a)		Non-taxable Distributions (Box 3)		Section 199A Dividends (1) (Box 5)
Common Stock (CUSIP: 637417106)
		100.0000 %		99.8471 %	0.1529 %			99.8471 %
		$2.290000		$2.286498	$0.003502			$2.286498
		(1) Dividends eligible for the 20% qualified business income deduction under      Section 199A and included in box 1a, Ordinary Dividends.

"The common dividend of $2.29 per share paid in 2024 marked the thirty-fifth consecutive annual dividend increase for NNN REIT," said Kevin Habicht, Chief Financial Officer. "The consistency of our dividend, both in good and challenging times, remains an important part of the company's total return to shareholders."

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of September 30, 2024, the company owned 3,549 properties in 49 states with a gross leasable area of approximately 36.6 million square feet and a weighted average remaining lease term of 10.0 years.  For more information on the company, visit www.nnnreit.com. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/nnn-reit-inc-announces-2024-dividend-tax-status-302350980.html

SOURCE NNN REIT, Inc.

FAQ

What is NNN REIT's dividend per share for 2024?

NNN REIT's total dividend per share for 2024 was $2.29.

How much of NNN REIT's 2024 dividend is classified as taxable?

99.8471% of NNN REIT's 2024 dividend is classified as taxable distributions.

How many consecutive years has NNN REIT increased its dividend?

NNN REIT has increased its dividend for 35 consecutive years.

What is NNN REIT's property portfolio size as of September 2024?

As of September 30, 2024, NNN REIT owned 3,549 properties across 49 states with 36.6 million square feet of gross leasable area.

What is the average remaining lease term for NNN REIT properties?

NNN REIT's weighted average remaining lease term is 10.0 years as of September 30, 2024.