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Rexford Industrial's 2024 Dividend Tax Treatment

Rexford Industrial Realty, Inc., a notable real estate investment trust operating primarily in Southern California, has made an important announcement regarding the tax treatment of their upcoming dividend distributions for 2024. As many investors look towards maximizing their year-end assessments, understanding the implications of dividend payouts is essential.

Key Details of the Dividend Distribution

Rexford Industrial has set forth specific parameters surrounding their dividends, highlighting the record dates and payable dates for both their common and preferred stock. Shareholders are advised to seek professional tax advice for personalized guidance based on these distributions.

Common Stock Dividend

The common stock, under CUSIP number 76169C100, will witness multiple distributions throughout 2024. The details are as follows:

• - Record Date: December 29, 2023

Payable Date: January 16, 2024
Distribution Per Share: $0.38
- Taxable in 2024: $0.304254

• - Subsequent Payments:

- March 28, 2024 - $0.4175
- June 28, 2024 - $0.4175
- September 30, 2024 - $0.4175
- December 31, 2024 - $0.4175

Total Annual Dividend: $2.05

• - 76% Taxable for 2024.

Preferred Stock Dividends

Rexford will also pay dividends on its preferred stock, categorized under Series B and C:

• - Series B Preferred Stock (CUSIP 76169C308)

- Regular distributions of $0.367188 occurring quarterly, with a total payment for the year of approximately $1.468752, all taxable in 2024.

• - Series C Preferred Stock (CUSIP 76169C407) follows the same pattern with a total of $1.406252 for the year.

Understanding the Tax Treatment

The breakdown indicates that Rexford Industrial’s dividend distributions will be classified primarily as ordinary dividends, qualified dividends, and returns of capital—each having different tax implications. Notably, dividends categorized as qualified may reduce the tax burden on shareholders, thanks to regulations such as the Tax Cuts and Jobs Act of 2017, which permits a deduction of up to 20% on certain ordinary dividends.

Conclusion

Investors are encouraged to keep abreast of these developments, ensuring they consult with tax professionals concerning their unique situations. As Rexford Industrial continues to thrive in its market, the clarity on dividend tax treatments is a crucial component for shareholders looking to navigate financial planning in the coming year. For further information, interested parties can view detailed filings on the company’s website or contact investor relations directly for queries specific to their portfolios.

By providing transparency in their dividend structuring, Rexford Industrial continues to build confidence with its investors, reinforcing its commitment to operational excellence and shareholder value creation in the competitive Southern California industrial landscape.