#United States #Jersey City #distributions #Tax Treatment #Veris Residential

Veris Residential Announces Tax Treatment for 2024 Distributions

Veris Residential, Inc. (NYSE: VRE), a prominent player in the multifamily real estate investment trust (REIT) sector, has officially communicated the tax implications of its distributions for the year 2024. Investors and shareholders of Veris Residential will receive a total of $0.235 per share of common stock, which has been categorized for tax purposes as detailed below.

The distribution structure is broken down per share across specific payment dates throughout the year. For example, the cash distributions on December 29, 2023, and April 3, 2024, will both amount to $0.053 per share. Following that, there will be a slightly higher distribution of $0.060 per share on July 3, 2024, and finally, a distribution of $0.070 per share on June 30, 2024. Each of these distributions is entirely classified as ordinary dividends.

Here’s a quick overview of the distribution breakdown:


Total Distribution: $0.235 per share

Notably, there are no taxes qualified as capital gains or unrecaptured section gains on these distributions, which may be favorable for the stakeholders concerned about tax burdens. This classification means shareholders should receive a total of $0.235 as ordinary dividends, with no further categorizations applicable for this fiscal period.

It is essential for shareholders to engage with their tax consultants to accurately interpret how these distributions will fit into their individual tax situations. Tax laws can be complex and vary significantly depending on other sources of income, state laws, and personal financial conditions. Therefore, the recommendation to reach out to a tax advisor is prudent.

Veris Residential, headquartered in Jersey City, New Jersey, is focused on owning, operating, acquiring, and developing high-quality Class A multifamily properties primarily located in the Northeast region of the United States. With their tech-enabled platform prioritizing the living experience of their residents, Veris aims to enhance community interaction and reinforce their commitment to sustainable living environments.

The company prides itself on a transparent and responsible governance model, which includes a highly experienced management team dedicated to upholding best practices in operational standards.

This clear communication about tax treatment not only assists in planning for investors' fiscal responsibilities but also contributes to Veris Residential's broader goal of maintaining open channels with their stakeholders—a pivotal aspect of their business strategy.

To learn more about Veris Residential and keep up with their latest offerings, please visit their official website at verisresidential.com.

Overall, as Veris Residential prepares for the upcoming distribution cycle, their strategic approach reinforces the importance of responsible management and proactive engagement with their investor community.