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Form 8-K INLAND REAL ESTATE CORP For: Jan 16

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January 22, 2015 4:40 PM EST




UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
�
FORM�8-K
�
CURRENT REPORT
�
Pursuant to Section�13 or 15(d)�of the Securities Exchange Act of 1934
�
Date of Report (Date of earliest event reported):� January 16, 2015
�
INLAND REAL ESTATE CORPORATION
(Exact Name of Registrant as Specified in its Charter)
�
Maryland
�
001-32185
�
36-3953261
(State or Other
Jurisdiction of
Incorporation)
�
(Commission File
Number)
�
(IRS Employer
Identification No.)
�
2901 Butterfield Road

Oak Brook,�Illinois 60523
(Address of Principal Executive Offices)
�
(877) 206-5656
(Registrants Telephone Number,�Including Area Code)
�
N/A
(Former Name or Former Address, if Changed Since Last Report)
�
Check the appropriate box below if the Form�8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
�
o����������� Written communications pursuant to Rule�425 under the Securities Act (17 CFR 230.425)
�
o����������� Soliciting material pursuant to Rule�14a-12 under the Exchange Act (17 CFR 240.14a-12)
�
o����������� Pre-commencement communications pursuant to Rule�14d-2(b)�under the Exchange Act (17 CFR 240.14d-2(b))
�
o����������� Pre-commencement communications pursuant to Rule�13e-4(c)�under the Exchange Act (17 CFR 240.13e-4(c))






Item 2.02. Results of Operations and Financial Condition.
�
On January 22, 2015, Inland Real Estate Corporation (the Company) issued a press release announcing the tax allocation of the cash distributions paid during 2014 on its preferred and common shares. The tax allocation provided in the press release is provided for informational purposes only. Stockholders are advised to consult with their tax advisors about the specific tax treatment of cash distributions paid by the Company in 2014.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein solely for purposes of this Item 2.02.
The information reported in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. In addition, the information reported in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.
�
(a)
�
Financial Statements of Businesses Acquired:� N/A
(b)
�
Pro Forma Financial Information:� N/A
(c)
�
Shell Company Transactions: N/A
(d)
�
Exhibits:
�
�
Exhibit�No.
�
Description
�
�
99.1
�
News release of Inland Real Estate Corporation, dated January 22, 2015.








SIGNATURES
�
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
�
�
�
INLAND REAL ESTATE CORPORATION
�
�
�
Date:� �January 22, 2015
By:
/s/ Mark E. Zalatoris
�
Name:
Mark E. Zalatoris
�
Title:
President and Chief Executive Officer





EXHIBIT�INDEX
�
�
�
Exhibit�No.
�
Description
�
�
99.1
�
News release of Inland Real Estate Corporation, dated January 22, 2015.






Inland Real Estate Corporation
2901 Butterfield Road
Oak Brook, IL 60523
(888) 331-4732
NEWS RELEASE

INLAND REAL ESTATE CORPORATION
ANNOUNCES TAX ALLOCATION OF 2014 CASH DISTRIBUTIONS

OAK BROOK, Ill. (January 22, 2015) - Inland Real Estate Corporation (NYSE: IRC) today announced the tax allocation of the cash distributions paid during 2014 on its preferred and common shares.

Each stockholder of record receiving cash distributions in 2014 will receive a Form 1099-DIV summarizing the allocation of his or her cash distributions. Thus, the tax allocation provided in this press release is provided for informational purposes only. Stockholders are advised to consult with their tax advisors about the specific tax treatment of cash distributions paid by Inland Real Estate Corporation in 2014.

Inland Real Estate Corporation currently pays a cash dividend of $0.169271 per share on a monthly basis to stockholders of its 8.125% Series A Cumulative Redeemable Preferred Stock. The following table, presented on a per share basis, summarizes the tax allocation determined by Inland Real Estate Corporation.

Preferred Shares (NYSE:IRCPrA)
CUSIP: 457461408
Record Date
Payment Date

Distribution
Per Share

Ordinary
Dividends
Qualified Dividends (1)
Total Capital Gain

Nondividend
Distributions
01/02/14
01/15/14
$
0.169271

$
0.169271

$
0.007133

$


$


02/03/14
02/18/14
$
0.169271

$
0.169271

$
0.007133

$


$


03/03/14
03/17/14
$
0.169271

$
0.169271

$
0.007133

$


$


04/01/14
04/15/14
$
0.169271

$
0.169271

$
0.007133

$


$


05/01/14
05/15/14
$
0.169271

$
0.169271

$
0.007133

$


$


06/02/14
06/16/14
$
0.169271

$
0.169271

$
0.007133

$


$


07/01/14
07/15/14
$
0.169271

$
0.169271

$
0.007133

$


$


08/01/14
08/15/14
$
0.169271

$
0.169271

$
0.007133

$


$


09/02/14
09/15/14
$
0.169271

$
0.169271

$
0.007133

$


$


10/01/14
10/15/14
$
0.169271

$
0.169271

$
0.007133

$


$


11/03/14
11/17/14
$
0.169271

$
0.169271

$
0.007133

$


$


12/01/14
12/15/14
$
0.169271

$
0.169271

$
0.007133

$


$


TOTAL
�
$
2.031252

$
2.031252

$
0.085596

$


$







Inland Real Estate Corporation currently pays a cash dividend of $0.144791667 per share on a monthly basis to stockholders of its 6.95% Series B Cumulative Redeemable Preferred Stock. The following table, presented on a per share basis, summarizes the tax allocation determined by Inland Real Estate Corporation.

Preferred Shares (NYSE:IRCPrB)
CUSIP: 457461507

Record Date
Payment Date

Distribution
Per Share

Ordinary
Dividends
Qualified Dividends (1)
Total Capital Gain

Nondividend
Distributions
11/03/14
11/17/14
$
0.139965

$
0.139965

$
0.005898

$


$


12/01/14
12/15/14
$
0.144792

$
0.144792

$
0.006101

$


$


TOTAL
�
$
0.284757

$
0.284757

$
0.011999

$


$



Inland Real Estate Corporation currently pays a cash distribution of $0.0475 per share to stockholders of its common stock on a monthly basis. The following table, presented on a per share basis, summarizes the tax allocation determined by Inland Real Estate Corporation.

Common Shares (NYSE: IRC)
CUSIP: 457461200


Record Date
Payment Date

Distribution
Per Share

Ordinary
Dividends
Qualified Dividends (1)
Total Capital Gain

Nondividend
Distributions
12/31/13
01/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

01/31/14
02/18/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

02/28/14
03/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

03/31/14
04/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

04/30/14
05/19/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

06/02/14
06/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

06/30/14
07/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

07/31/14
08/18/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

09/02/14
09/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

09/30/14
10/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

10/31/14
11/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

12/01/14
12/17/14
$
0.047500

$
0.046730

$
0.001969

$


$
0.000770

TOTAL
�
$
0.570000

$
0.560760

$
0.023628

$


$
0.009240


(1)
Qualified Dividends is a subset of, and included in, the 2014 Ordinary Dividends.



About Inland Real Estate Corporation
Inland Real Estate Corporation is a self-advised and self-managed publicly traded real estate investment trust focused on owning and operating open-air neighborhood, community and power shopping centers located in well-established markets primarily in the Central United States. As of September 30, 2014, the Company owned interests in 136 investment properties, including 31 owned through its unconsolidated joint ventures, with aggregate leasable space of approximately 15 million square feet.� Additional information on Inland Real Estate Corporation is available at http://www.inlandrealestate.com. To connect with Inland Real Estate Corporation via LinkedIn, visit http://www.linkedin.com/company/inland-real-estate-corporation, or via Twitter at www.twitter.com/IRC_REIT.




Certain information in this supplemental information may constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995.� Forward-looking statements are statements that do not reflect historical facts and instead reflect our management's intentions, beliefs, expectations, plans or predictions of the future.� Forward-looking statements can often be identified by words such as "seek," believe, expect, anticipate, intend, estimate, may, will, should and could. Examples of forward-looking statements include, but are not limited to, statements that describe or contain information related to matters such as management's intent, belief or expectation with respect to our financial performance, investment strategy or our portfolio, our ability to address debt maturities, our cash flows, our growth prospects, the value of our assets, our joint venture commitments and the amount and timing of anticipated future cash distributions. Forward-looking statements reflect the intent, belief or expectations of our management based on their knowledge and understanding of our business and industry and their assumptions, beliefs and expectations with respect to the market for commercial real estate, the U.S. economy and other future conditions. Forward-looking statements are not guarantees of future performance, and investors should not place undue reliance on them. Actual results may differ materially from those expressed or forecasted in forward-looking statements due to a variety of risks, uncertainties and other factors, including but not limited to the risks listed and described under Item 1ARisk Factors in our Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the Securities and Exchange Commission (the SEC) on February 28, 2014, as they may be revised or supplemented by us in subsequent Reports on Form 10-Q and other filings with the SEC. Except as otherwise required by applicable law, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement in this release to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.

Inland Real Estate Corporation Contact:
�
Dawn Benchelt, Director of Investor Relations
�
(630) 218-7364
�
�





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