Centerspace Unveils Dividend Allocations for 2024, Guiding Shareholders on Tax Treatment
Centerspace Announces 2024 Dividend Allocations
On January 23, 2025, Centerspace (NYSE: CSR) disclosed its dividend allocations for the year 2024, detailing the tax treatment for both common and preferred shares of beneficial interest. The announcement encourages shareholders to consult their personal tax advisors regarding the specific tax implications associated with their distributions. This is vital information as shareholders prepare their financial statements for the upcoming tax season.
Dividend Distribution Overview
The following table summarizes the distribution details for common shares over the year:
| Record Date | Payable Date | Cash Distribution Per Share | Ordinary Taxable Dividend | Qualified Dividend | Long-Term Capital Gain | Non-dividend Distribution | Section 199A Dividend |
|---|---|---|---|---|---|---|---|
| --- | -- | ----- | ----- | ---- | ---- | ------ | ----- |
| 12/29/23 | 01/12/24 | $0.7300000 | $0.3044544 | $0.000000 | $0.000000 | $0.4255456 | $0.3044544 |
| 03/28/24 | 04/08/24 | $0.7500000 | $0.3127957 | $0.000000 | $0.000000 | $0.4372043 | $0.3127957 |
| 06/28/24 | 07/10/24 | $0.7500000 | $0.3127957 | $0.000000 | $0.000000 | $0.4372043 | $0.3127957 |
| 09/30/24 | 10/10/24 | $0.7500000 | $0.3127957 | $0.000000 | $0.000000 | $0.4372043 | $0.3127957 |
In total, common shareholders can expect a cash distribution of $2.98 per share for the year. The detailed allocations include ordinary taxable dividends as well as qualified dividends, which can significantly impact the overall tax liabilities of shareholders.
Series C Preferred Shares
In addition to common shares, Centerspace also provided information on its Series C preferred shares. Here are the distribution parameters for these shares:
| Record Date | Payable Date | Cash Distribution Per Share | Ordinary Taxable Dividend |
|---|---|---|---|
| --- | -- | ----- | ------- |
| 03/15/24 | 03/28/24 | $0.4140625 | $0.4140625 |
| 06/14/24 | 06/28/24 | $0.4140625 | $0.4140625 |
| 09/16/24 | 09/30/24 | $0.4140625 | $0.4140625 |
The total cash distribution for the Series C preferred shares amounts to $1.2421875.
About Centerspace
Founded in 1970, Centerspace is dedicated to enhancing the living experiences of its residents through integrity and exceptional service. The company operates a portfolio of 71 apartment communities across several states, including Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. In recognition of its positive workplace environment, Centerspace earned accolades as a top workplace in 2024 from the Minneapolis Star Tribune.
The firm encourages all shareholders to stay informed about their distribution details and any pertinent tax implications. For further inquiries, Josh Klaetsch from Investor Relations is available at (952) 401-6600 or via email at [email protected].
As Centerspace continues to prioritize transparency and shareholder engagement, their proactive approach towards dividend distribution positions them favorably within the sector.
For more information about Centerspace, visit www.centerspacehomes.com.
Topics Financial Services & Investing）
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