Terreno Realty Corporation Announces Tax Treatment of 2022 Dividends

SAN FRANCISCO--(BUSINESS WIRE)-- Terreno Realty Corporation (NYSE:TRNO) , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today the income tax treatment of its 2022 dividend distributions to holders of its common stock.

For holders of Terreno Realty Corporation common stock, the 2022 distribution of $1.52 per share includes a portion of one quarterly distribution declared in 2021 and paid in 2022, three quarterly distributions declared and paid in 2022, and a portion of one quarterly distribution declared in 2022 and paid in 2023. The distribution characteristics are as follows:

Security			Record Date		Date Paid		Dividend per Share		2022 Ordinary Taxable Dividend		2022 Total Capital Gain Dividend		2022 Return of Capital Dividend		2022 Unrecaptured Section 1250 Gain (1)		2022 Section 199A Dividend (2)
Common stock			December 15, 2021		January 5, 2022		$ 0.317194		$ 0.263097		$ 0.054097		$ -		$ 0.004677		$ 0.263097
Common stock			March 25, 2022		April 8, 2022		$ 0.340000		$ 0.282013		$ 0.057987		$ -		$ 0.005013		$ 0.282013
Common stock			June 30, 2022		July 14, 2022		$ 0.340000		$ 0.282013		$ 0.057987		$ -		$ 0.005013		$ 0.282013
Common stock			September 30, 2022		October 14, 2022		$ 0.400000		$ 0.331780		$ 0.068220		$ -		$ 0.005898		$ 0.331780
Common stock			December 30, 2022		January 13, 2023		$ 0.124200		$ 0.103018		$ 0.021182		$ -		$ 0.001831		$ 0.103018
			Total				$ 1.521394		$ 1.261921		$ 0.259473		$ -		$ 0.022432		$ 1.261921
			Dividend as a % of total						82.9%		17.1%		0.0%		1.5%		82.9%

(1)		The 2022 Unrecaptured Section 1250 Gain is a subset of, and is included in, the 2022 Total Capital Gain Dividend amount.
(2)		2022 Section 199A Dividends are a subset of, and are included in, the 2022 Ordinary Taxable Dividends.

Approximately $0.12 of the $0.40 distribution that was declared on November 1, 2022 and paid on January 13, 2023 will be considered a distribution made in 2022 for U.S. federal income tax purposes.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2021 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

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Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation