Chronicle Journal: Finance

Spirit Realty Capital, Inc. Announces 2020 Dividend Tax Allocation

Spirit Realty Capital, Inc. (NYSE: SRC) (“SRC” or “Spirit”), a premier net lease real estate investment trust (“REIT”) that invests in single-tenant, operationally essential real estate, announced today the calculation of the tax status of its 2020 common stock (CUSIP #84860W300) and Series A Preferred Stock (CUSIP# 84860W201) dividends.

The following is an allocation of the 2020 common stock (CUSIP #84860W300) dividends for United States federal income tax purposes:

Record
Date

Paid Date

Dividend
per Share

Ordinary
Dividends(1)

Qualified
Dividends

Total
Capital Gain
Dividends

Unrecaptured
Sec. 1250 Gain
Dividends

Non-
Dividend
Distributions

Return of
Capital %

12/31/19

01/15/20

$0.62500

$0.449550

$0.003439

$0.000000

$0.000000

$0.175450

28.0720%

03/31/20

04/15/20

$0.62500

$0.449550

$0.003439

$0.000000

$0.000000

$0.175450

28.0720%

06/30/20

07/15/20

$0.62500

$0.449550

$0.003439

$0.000000

$0.000000

$0.175450

28.0720%

09/30/20

10/15/20

$0.62500

$0.449550

$0.003439

$0.000000

$0.000000

$0.175450

28.0720%

Total

$2.50000

$1.798200

$0.013756

$0.000000

$0.000000

$0.701800

28.0720%

 

(1)

The 2020 “Qualified REIT Dividends” for purposes of Internal Revenue Code Section 199A are the Ordinary Dividends less the Qualified Dividends in the table above.

The common stock dividend of $0.625 per share that was paid on January 15, 2021, with a record date of December 31, 2020, will be allocated to the 2021 tax year.

The following is an allocation of the 2020 preferred stock (CUSIP #84860W201) dividends for United States federal income tax purposes:

Record
Date

Paid Date

Dividend
per Share

Ordinary
Dividends(1)

Qualified
Dividends

Total
Capital Gain
Dividends

Unrecaptured
Sec. 1250 Gain
Dividends

Non-
Dividend
Distributions

Return of
Capital %

03/13/20

03/31/20

$0.375000

$0.375000

$0.002869

$0.000000

$0.000000

$0.000000

0.0000%

06/15/20

06/30/20

$0.375000

$0.375000

$0.002869

$0.000000

$0.000000

$0.000000

0.0000%

09/15/20

09/30/20

$0.375000

$0.375000

$0.002869

$0.000000

$0.000000

$0.000000

0.0000%

12/15/20

12/31/20

$0.375000

$0.375000

$0.002869

$0.000000

$0.000000

$0.000000

0.0000%

Total

$1.500000

$1.500000

$0.011476

$0.000000

$0.000000

$0.000000

0.0000%

 

(1)

The 2020 “Qualified REIT Dividends” for purposes of Internal Revenue Code Section 199A are the Ordinary Dividends less the Qualified Dividends in the table above

Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment related to SRC common and preferred stock dividends.

Additional dividend information can be obtained through the Investor Relations section of Spirit’s website at www.spiritrealty.com. For account inquiries related to your SRC dividends, please contact Spirit’s transfer agent, American Stock Transfer & Trust Company, LLC at (866) 703-9065.

ABOUT SPIRIT REALTY

Spirit Realty Capital, Inc. (NYSE: SRC) is a net-lease real estate investment trust (“REIT”) that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases.

As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements can be identified by the use of words and phrases such as “expect,” “plan,” “will,” “estimate,” “project,” “intend,” “believe,” “guidance,” “approximately,” “anticipate,” “may,” “should,” “seek” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate to historical matters but are meant to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions of management. These forward-looking statements are subject to known and unknown risks and uncertainties that you should not rely on as predictions of future events. Forward-looking statements depend on assumptions, data and/or methods which may be incorrect or imprecise and Spirit may not be able to realize them. Spirit does not guarantee that the events described will happen as described (or that they will happen at all). The following risks and uncertainties, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: industry and economic conditions; volatility and uncertainty in the financial markets, including potential fluctuations in the Consumer Price Index; Spirit’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate, integrate and manage diversifying acquisitions or investments; the financial performance of Spirit’s retail tenants and the demand for retail space, particularly with respect to challenges being experienced by general merchandise retailers; Spirit’s ability to diversify its tenant base; the nature and extent of future competition; increases in Spirit’s costs of borrowing as a result of changes in interest rates and other factors; Spirit’s ability to access debt and equity capital markets; Spirit’s ability to pay down, refinance, restructure and/or extend its indebtedness as it becomes due; Spirit’s ability and willingness to renew its leases upon expiration and to reposition its properties on the same or better terms upon expiration in the event such properties are not renewed by tenants or Spirit exercises its rights to replace existing tenants upon default; the impact of any financial, accounting, legal or regulatory issues or litigation that may affect Spirit or its major tenants; Spirit’s ability to manage its expanded operations; Spirit’s ability and willingness to maintain its qualification as a REIT under the Internal Revenue Code of 1986, as amended; the impact on Spirit’s business and those of its tenants from epidemics, pandemics or other outbreaks of illness, disease or virus (such as the strain of coronavirus known as COVID-19); and other risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments and potential damages from natural disasters discussed in Spirit’s most recent filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent Quarterly Reports on Form 10-Q. You are cautioned not to place undue reliance on forward-looking statements which are based on information that was available, and speak only, as of the date on which they were made. While forward-looking statements reflect Spirit’s good faith beliefs, they are not guarantees of future performance. Spirit expressly disclaims any responsibility to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

Pierre Revol
(972) 476-1403
InvestorRelations@spiritrealty.com

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