MEMPHIS, Tenn.--(BUSINESS WIRE)--
Jernigan Capital, Inc. (the “Company”) (JCAP) announced today the taxable composition of its 2016 distributions paid to shareholders on its common stock. The amount of distribution referred to as return of capital is considered by US tax law to be a return of invested capital and is not currently taxable to the extent of shareholder basis. Shareholders are advised to consult with their tax advisors with respect to the individual consequences of the distributions. The composition presented is applicable to all dividend distributions during 2016. The classifications for 2016 are as follows:
|COMMON STOCK (CUSIP NO. 476405105)|
The fourth quarter 2016 distribution made to shareholders of record as of January 3, 2017 is considered a 2017 distribution for federal income tax purposes.
About Jernigan Capital, Inc.
Jernigan Capital, Inc. is a New York Stock Exchange-listed real estate investment trust (JCAP) that provides debt and equity capital to private developers, owners, and operators of self-storage facilities. Our mission is to be the preeminent capital partner for self-storage entrepreneurs nationwide by offering creative solutions through an experienced team demonstrating the highest levels of integrity, dedication, excellence and community, while maximizing shareholder value. The Jernigan Capital team has extensive experience in over 100 U.S. markets—from acquiring and managing self-storage properties to new self-storage development—providing JCAP with knowledge unmatched by any lender, broker or advisor to the sector. Jernigan Capital is the only source of construction and development capital focused solely on the self-storage sector.
Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Such statements include those made about the expectation that the Company will have no material change in taxable composition of its 2016 distributions. The expectation is based on preliminary work the Company has performed on its year end filings and on information currently available. Unknown risks, uncertainties and other factors may cause actual results, performance or achievements of the company to differ materially from those on which these calculations were based. For a discussion of these and other risks facing our business, see the information under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) and our other filings with the SEC from time to time, which are accessible on the SEC’s website at www.sec.gov.