Form 8-K UMH PROPERTIES, INC. For: Jan 31
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 31, 2018
UMH Properties, Inc.
(Exact name of registrant as specified in its charter)
| Maryland | 001-12690 | 22-1890929 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| Juniper Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ | 07728 | |
| (Address of principal executive offices) | (Zip Code) |
| Registrant’s telephone number, including area code: | (732) 577-9997 |
Not Applicable
(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 (see General Instruction A.2. below):
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| [ ] | Soliciting material pursuant to Rule 14a- 12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01 | Regulation FD Disclosure. |
On January 31, 2018, the Company issued a revised press release announcing the tax treatment for 2017 distributions. The distribution amount paid on 9/15/2017 on the 6.75% Series C Cumulative Redeemable Preferred Stock was updated. Attached herewith is a complete, corrected release.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| 99 | Press Release dated January 31, 2018 |
| 2 |
SIGNATURE
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.
| UMH Properties, Inc. | ||
| Date: February 1, 2018 | By: | /s/ Anna T. Chew |
| Name: | Anna
T. Chew | |
| 3 |
| FOR IMMEDIATE RELEASE | January 31, 2018 |
Contact:
Nelli Madden |
UMH PROPERTIES, INC. ANNOUNCES TAX TREATMENT FOR 2017 DISTRIBUTIONS
FREEHOLD, NJ, JANUARY 31, 2018……UMH Properties, Inc. (NYSE: UMH) today announced the tax treatment of its 2017 distributions.
The following tables summarize, for income tax purposes, the nature of cash distributions paid to stockholders of UMH’s common and preferred shares during the calendar year ended December 31, 2017.
Common - CUSIP 903002103
| Shown as Dollars ($) | ||||||||||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long- Term Capital Gain (2a) | Unrecaptured
| Return of Capital (3) | |||||||||||||||
| 3/15/17 | $ | 0.180000 | $ | 0.000000 | $ | 0.000000 | $ | 0.000000 | $ | 0.180000 | ||||||||||
| 6/15/17 | $ | 0.180000 | $ | 0.000000 | $ | 0.000000 | $ | 0.000000 | $ | 0.180000 | ||||||||||
| 9/15/17 | $ | 0.180000 | $ | 0.000000 | $ | 0.000000 | $ | 0.000000 | $ | 0.180000 | ||||||||||
| 12/15/17 | $ | 0.180000 | $ | 0.000000 | $ | 0.000000 | $ | 0.000000 | $ | 0.180000 | ||||||||||
| TOTAL | $ | 0.720000 | $ | 0.000000 | $ | 0.000000 | $ | 0.000000 | $ | 0.720000 | ||||||||||
| Shown as a Percentage (%) | ||||||||||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long-Term Capital Gain (2a) | Unrecaptured (2b) | Return of Capital (3) | |||||||||||||||
| 3/15/17 | $ | 0.180000 | 0 | % | 0 | % | 0 | % | 100 | % | ||||||||||
| 6/15/17 | $ | 0.180000 | 0 | % | 0 | % | 0 | % | 100 | % | ||||||||||
| 9/15/17 | $ | 0.180000 | 0 | % | 0 | % | 0 | % | 100 | % | ||||||||||
| 12/15/17 | $ | 0.180000 | 0 | % | 0 | % | 0 | % | 100 | % | ||||||||||
| TOTAL | $ | 0.720000 | 0 | % | 0 | % | 0 | % | 100 | % | ||||||||||
| Page | 2 |
8.25% Series A Cumulative Redeemable Preferred - CUSIP 903002202
| Shown as Dollars ($) | ||||||||||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long- Term Capital Gain (2a) | Unrecaptured (2b) | Return of Capital (3) | |||||||||||||||
| 3/15/17 | $ | 0.515625 | $ | 0.164716 | $ | 0.046068 | $ | 0.000000 | $ | 0.304841 | ||||||||||
| 6/15/17 | $ | 0.515625 | $ | 0.164716 | $ | 0.046068 | $ | 0.000000 | $ | 0.304841 | ||||||||||
| 9/15/17 | $ | 0.515625 | $ | 0.164716 | $ | 0.046068 | $ | 0.000000 | $ | 0.304841 | ||||||||||
| 12/15/17 | - | - | - | - | - | |||||||||||||||
| TOTAL | $ | 1.546875 | $ | .494148 | $ | 0.138204 | $ | 0.000000 | $ | 0.914523 | ||||||||||
| Shown as a Percentage (%) | ||||||||||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long- Term Capital Gain (2a) | Unrecaptured (2b) | Return of Capital (3) | |||||||||||||||
| 3/15/17 | $ | 0.515625 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| 6/15/17 | $ | 0.515625 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| 9/15/17 | $ | 0.515625 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| 12/15/17 | - | - | - | - | - | |||||||||||||||
| TOTAL | $ | 1.546875 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
8.0% Series B Cumulative Redeemable Preferred - CUSIP 903002301
| Shown as Dollars ($) | ||||||||||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long- Term Capital Gain (2a) | Unrecaptured (2b) | Return of Capital (3) | |||||||||||||||
| 3/15/17 | $ | 0.500000 | $ | 0.159724 | $ | 0.044672 | $ | 0.000000 | $ | 0.295604 | ||||||||||
| 6/15/17 | $ | 0.500000 | $ | 0.159724 | $ | 0.044672 | $ | 0.000000 | $ | 0.295604 | ||||||||||
| 9/15/17 | $ | 0.500000 | $ | 0.159724 | $ | 0.044672 | $ | 0.000000 | $ | 0.295604 | ||||||||||
| 12/15/17 | $ | 0.500000 | $ | 0.159724 | $ | 0.044672 | $ | 0.000000 | $ | 0.295604 | ||||||||||
| TOTAL | $ | 2.000000 | $ | 0.638896 | $ | 0.178688 | $ | 0.000000 | $ | 1.182416 | ||||||||||
| Shown as a Percentage (%) | ||||||||||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long- Term Capital Gain (2a) | Unrecaptured (2b) | Return of Capital (3) | |||||||||||||||
| 3/15/17 | $ | 0.500000 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| 6/15/17 | $ | 0.500000 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| 9/15/17 | $ | 0.500000 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| 12/15/17 | $ | 0.500000 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| TOTAL | $ | 2.000000 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| Page | 3 |
6.75% Series C Cumulative Redeemable Preferred - CUSIP 903002400
| Shown as Dollars ($) | ||||||||||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long- Term Capital Gain (2a) | Unrecaptured (2b) | Return of Capital (3) | |||||||||||||||
| 3/15/17 | - | - | - | - | - | |||||||||||||||
| 6/15/17 | - | - | - | - | - | |||||||||||||||
| 9/15/17 | $ | 0.168750 | $ | 0.053907 | $ | 0.015077 | $ | 0.000000 | $ | 0.099766 | ||||||||||
| 12/15/17 | $ | 0.421875 | $ | 0.134767 | $ | 0.037692 | $ | 0.000000 | $ | 0.249416 | ||||||||||
| TOTAL | $ | 0.590625 | $ | 0.188674 | $ | 0.052769 | $ | 0.000000 | $ | 0.349182 | ||||||||||
| Shown as a Percentage (%) | ||||||||||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long-Term Capital Gain (2a) | Unrecaptured Sec. 1250 Gain (2b) | Return of Capital (3) | |||||||||||||||
| 3/15/17 | - | - | - | - | - | |||||||||||||||
| 6/15/17 | - | - | - | - | - | |||||||||||||||
| 9/15/17 | $ | 0.168750 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| 12/15/17 | $ | 0.421875 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
| TOTAL | $ | 0.590625 | 31.944846 | % | 8.934392 | % | 0 | % | 59.120762 | % | ||||||||||
DIVIDEND REINVESTMENT PLAN DISCOUNTS
Common - CUSIP 903002103
| DISCOUNT DATE | FAIR MARKET VALUE ($) | DISCOUNT PRICE ($) | DISCOUNT ON D/R ($) | |||||||||
| 1/17/2017 | 14.140 | 13.625 | 0.515 | |||||||||
| 2/15/2017 | 14.205 | 13.875 | 0.330 | |||||||||
| 3/15/2017 | 14.075 | 13.375 | 0.700 | |||||||||
| 4/17/2017 | 15.385 | 14.625 | 0.760 | |||||||||
| 5/15/2017 | 16.255 | 15.750 | 0.505 | |||||||||
| 6/15/2017 | 17.325 | 16.500 | 0.825 | |||||||||
| 7/17/2017 | 16.515 | 15.875 | 0.640 | |||||||||
| 8/15/2017 | 15.355 | 14.625 | 0.730 | |||||||||
| 9/15/2017 | 15.825 | 15.125 | 0.700 | |||||||||
| 10/16/2017 | 15.865 | 15.125 | 0.740 | |||||||||
| 11/15/2017 | 14.915 | 14.375 | 0.540 | |||||||||
| 12/15/2017 | 14.840 | 14.250 | 0.590 | |||||||||
Shareholders are encouraged to consult with their tax advisors as to the specific tax treatment of the distributions they received from the Company.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 112 manufactured home communities with approximately 20,000 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities.
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