Click here to close now.




















Welcome!

News Feed Item

First Industrial Realty Trust Reports Tax Treatment of Common Stock and Preferred Stock Distributions

CHICAGO, Jan. 23, 2014 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading owner, operator and developer of industrial real estate, today reported the tax treatment of its 2013 distributions. 

(Logo: http://photos.prnewswire.com/prnh/20040106/FRLOGO)

For tax purposes, 100 percent of the Company's 2013 common stock distributions represented ordinary dividends. 

Approximately 63 percent of the common stock distributions with a record date of December 31, 2013 that were paid on January 21, 2014 are allocable to 2013 for federal income tax purposes.    

For tax purposes, 100 percent of the Company's 2013 preferred stock distributions for its Series J Cumulative Redeemable Preferred Stock and its Series K Cumulative Redeemable Preferred Stock represented ordinary dividends.  The Company redeemed the outstanding depositary shares of both its Series J and its Series K Cumulative Redeemable Preferred Stock in 2013.

This release is based on the preliminary results of work on the Company's tax filings and may be subject to correction or adjustment when the filings are completed.  However, no material change in the information reported is expected.  Shareholders should consult with their tax advisors as to their specific tax treatment.

The tables below summarize the income tax treatment of the Company's distributions.

Common











Declaration Date

Record Date

Payable Date


 Total Distributions Per Share 

 Total Distribution Allocable to 2013 

 2013 Total Ordinary Dividends 

 2013 Qualified Dividends (1) 

 2013 Total Capital Gain Distributions 

 2013 Unrecaptured Section 1250 Gain (2) 

 2013 Return of Capital (Nondividend Distributions) 

2/20/2013

3/28/2013

4/15/2013


$0.085000

$0.085000

$0.085000

$0.000000

$0.000000

$0.000000

$0.000000

5/9/2013

6/28/2013

7/15/2013


$0.085000

$0.085000

$0.085000

$0.000000

$0.000000

$0.000000

$0.000000

8/7/2013

9/30/2013

10/21/2013


$0.085000

$0.085000

$0.085000

$0.000000

$0.000000

$0.000000

$0.000000

11/12/2013

12/31/2013

1/21/2014


$0.085000

$0.053837

$0.053837

$0.000000

$0.000000

$0.000000

$0.000000













Total



$0.340000

$0.308837

$0.308837

$0.000000

$0.000000

$0.000000

$0.000000

Form 1099-DIV Box





1a

1b

2a

2b

3












Preferred

Series J Cumulative Redeemable Preferred Stock

















Declaration Date

Record Date

Payable Date


 Total Distributions Per Share 

 Total Distribution Allocable to 2013 

 2013 Total Ordinary Dividends 

 2013 Qualified Dividends (1) 

 2013 Total Capital Gain Distributions 

 2013 Unrecaptured Section 1250 Gain (2) 

 2013 Return of Capital (Nondividend Distributions) 

2/20/2013

3/15/2013

4/1/2013


$0.453130

$0.453130

$0.453130

$0.000000

$0.000000

$0.000000

$0.000000

3/11/2013


4/11/2013


$0.055382

$0.055382

$0.055382

$0.000000

$0.000000

$0.000000

$0.000000













Total



$0.508512

$0.508512

$0.508512

$0.000000

$0.000000

$0.000000

$0.000000

Form 1099-DIV Box





1a

1b

2a

2b

3























Preferred

Series K Cumulative Redeemable Preferred Stock






Declaration Date

Record Date

Payable Date


 Total Distributions Per Share 

 Total Distribution Allocable to 2013 

 2013 Total Ordinary Dividends 

 2013 Qualified Dividends (1) 

 2013 Total Capital Gain Distributions 

 2013 Unrecaptured Section 1250 Gain (2) 

 2013 Return of Capital (Nondividend Distributions) 

2/20/2013

3/15/2013

4/1/2013


$0.453130

$0.453130

$0.453130

$0.000000

$0.000000

$0.000000

$0.000000

5/9/2013

6/14/2013

7/1/2013


$0.453130

$0.453130

$0.453130

$0.000000

$0.000000

$0.000000

$0.000000

6/14/2013


7/18/2013


$0.090625

$0.090625

$0.090625

$0.000000

$0.000000

$0.000000

$0.000000













Total



$0.996885

$0.996885

$0.996885

$0.000000

$0.000000

$0.000000

$0.000000

Form 1099-DIV Box





1a

1b

2a

2b

3












(1)  Qualified Dividends (Box 1b) are a subset of, and are included in, the Total Ordinary Dividends reported in Box 1a.



(2)  Unrecaptured Section 1250 Gain (Box 2b) is a subset of, and is included in, the Total Capital Gain Distributions reported in Box 2a.





About First Industrial Realty Trust, Inc.

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers.  Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.  In total, we own, manage and have under development approximately 66.8 million square feet of industrial space as of September 30, 2013.  For more information, please visit us at www.firstindustrial.com

Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "believe," "expect," "intend," "plan," "anticipate," "estimate," "project," "seek," "target," "potential," "focus," "may," "should" or similar expressions. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a materially adverse effect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically; changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities; our ability to qualify and maintain our status as a real estate investment trust; the availability and attractiveness of financing (including both public and private capital) to us and to our potential counterparties; the availability and attractiveness of terms of additional debt repurchases; interest rates; our credit agency ratings; our ability to comply with applicable financial covenants; competition; changes in supply and demand for industrial properties (including land, the supply and demand for which is inherently more volatile than other types of industrial property) in the Company's current and proposed market areas; difficulties in consummating acquisitions and dispositions; risks related to our investments in properties through joint ventures; environmental liabilities; slippages in development or lease-up schedules; tenant creditworthiness; higher-than-expected costs; changes in asset valuations and related impairment charges; changes in general accounting principles, policies and guidelines applicable to real estate investment trusts; international business risks; and those additional factors described under the heading "Risk Factors" and elsewhere in the Company's annual report on Form 10-K for the year ended December 31, 2012 and in the Company's subsequent Exchange Act reports. We caution you not to place undue reliance on forward-looking statements, which reflect our outlook only and speak only as of the date of this press release or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements. For further information on these and other factors that could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission.

SOURCE First Industrial Realty Trust, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.