COPT Announces Tax Treatment of 2017 Distributions

January 26, 2018 4:16 PM

COLUMBIA, Md.--(BUSINESS WIRE)-- Corporate Office Properties Trust (“COPT” or the Company) (NYSE: OFC) announced the 2017 tax treatment of its Common and Preferred share distributions as described below. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of COPT Common and Preferred Share distributions.

The Common share distributions with a record date of December 29, 2017 (with a payment date of January 16, 2018) will be allocable to 2018 for income tax purposes as the Company had already distributed in excess of 100% of its 2017 taxable earnings and profits to shareholders prior to making its fourth quarter distributions.

The tables below summarize the income tax treatment of 2017 distributions.

Common Shares (CUSIP #22002T108)
Record Date

PaymentDate

TotalDistribution perShare

Total DistributionAllocable to 2017

2017 TaxableOrdinary Dividends

2017 QualifiedDividends

2017 TotalCapital GainDistribution

Return ofCapital (1)

2017 UnrecapturedSection 1250 Gain

12/30/2016 1/17/2017 $ 0.2750 $ 0.2750 $ 0.2380 $ - $ - $ 0.0370 $ -
3/31/2017 4/17/2017 $ 0.2750 $ 0.2750 $ 0.2380 $ - $ - $ 0.0370 $ -
6/30/2017 7/17/2017 $ 0.2750 $ 0.2750 $ 0.2380 $ - $ - $ 0.0370 $ -
9/30/2017 10/16/2017 $ 0.2750 $ 0.2750 $ 0.2380 $ - $ - $ 0.0370 $ -
12/29/2017 1/16/2018 $ 0.2750 $ - $ - $ - $ - $ - $ -
$ 1.3750 $ 1.1000 $ 0.9518 $ - $ - $ 0.1482 $ -
(1) Represents a return of shareholder investment.
Series K Preferred Shares (CUSIP# 22002T801)
Record Date

PaymentDate

TotalDistribution perShare

Total DistributionAllocable to 2017

2017 TaxableOrdinary Dividends

2017 QualifiedDividends

2017 TotalCapital GainDistribution

Return ofCapital

2017 UnrecapturedSection 1250 Gain

12/30/2016 1/17/2017 $ 0.7000 $ 0.7000 $ 0.7000 $ - $ - $ - $ -
1/21/2017 1/21/2017 $ 0.0544 $ 0.0544 $ 0.0544 $ - $ - $ - $ -
$ 0.7544 $ 0.7544 $ 0.7544 $ - $ - $ - $ -
Series L Preferred Shares (CUSIP# 22002T884)
Record Date

PaymentDate

TotalDistribution perShare

Total DistributionAllocable to 2017

2017 TaxableOrdinary Dividends

2017 QualifiedDividends

2017 TotalCapital GainDistribution

Return ofCapital

2017 UnrecapturedSection 1250 Gain

12/30/2016 1/17/2017 $ 0.4609 $ 0.4609 $ 0.4609 $ - $ - $ - $ -
3/31/2017 4/17/2017 $ 0.4609 $ 0.4609 $ 0.4609 $ - $ - $ - $ -
6/27/2017 6/27/2017 $ 0.3687 $ 0.3687 $ 0.3687 $ - $ - $ - $ -
$ 1.2905 $ 1.2905 $ 1.2905 $ - $ - $ - $ -

Company Information

COPT is an office REIT that owns, manages, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing priority missions (“Defense/IT Locations”). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets within its regional footprint with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of September 30, 2017, the Company derived 87% of core portfolio annualized revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of September 30, 2017 and including six buildings owned through an unconsolidated joint venture, COPT’s core portfolio of 153 office properties encompassed 16.7 million square feet and was 95.1% leased. As of the same date, the Company also owned one wholesale data center with a critical load of 19.25 megawatts.

Forward-Looking Information

This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Accordingly, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements.

Important factors that may affect these expectations, estimates, and projections include, but are not limited to:

The Company undertakes no obligation to update or supplement any forward-looking statements. For further information, please refer to the Company’s filings with the Securities and Exchange Commission, particularly the section entitled “Risk Factors” in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

Corporate Office Properties Trust

IR Contacts:

Stephanie Krewson-Kelly, 443-285-5453

stephanie.kelly@copt.com

or

Michelle Layne, 443-285-5452

michelle.layne@copt.com

Source: Corporate Office Properties Trust

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