Postal Realty Trust Declares Fourth Quarter 2023 Dividend
– Increases Quarterly Dividend to $0.24 Per Share –
– Provides Tax Characteristics of 2023 Dividends –
CEDARHURST, N.Y., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Postal Realty Trust, Inc. (NYSE: PSTL) (the “Company”), an internally managed real estate investment trust that owns and manages over 1,900 postal properties leased primarily to the United States Postal Service (the “USPS”), ranging from last-mile post offices to industrial facilities, announced today that its board of directors has approved a quarterly dividend on the Company’s Class A common stock in the amount of $0.24 per share. This represents a 1.1% increase from the fourth quarter 2022 dividend. The dividend will be payable on February 29, 2024 to stockholders of record as of the close of business on February 16, 2024.
Tax Treatment of 2023 Dividends
The following table summarizes, for income tax purposes, the nature of the cash dividends paid to the Company’s Class A common stockholders during the tax year ended December 31, 2023:
Record Dates | Payable Dates | Distribution per Share | Ordinary Dividends | Non-Dividend Distributions | Section 199A Dividends | ||||
2/15/2023 | 2/28/2023 | $0.2375 | $0.1414 | $0.0961 | $0.1414 | ||||
5/5/2023 | 5/31/2023 | $0.2375 | $0.1414 | $0.0961 | $0.1414 | ||||
8/7/2023 | 8/31/2023 | $0.2375 | $0.1414 | $0.0961 | $0.1414 | ||||
11/1/2023 | 11/30/2023 | $0.2375 | $0.1414 | $0.0961 | $0.1414 | ||||
Total | $0.9500 | $0.5656 | $0.3844 | $0.5656 | |||||
The information in the table above is based on the preliminary results of work on the tax filings of the Company and is subject to correction or adjustment when the filings are completed. No material change in these classifications is expected. The tax information above should not be construed as tax advice and is not a substitute for careful tax planning and analysis. Stockholders are encouraged to consult with their own tax advisors regarding the specific federal, state, local, foreign and other tax consequences of ownership of the Company’s Class A common stock and the specific tax treatment of distributions on the Company’s Class A common stock.
About Postal Realty Trust, Inc.
Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 1,900 postal properties leased primarily to the USPS. More information is available at postalrealtytrust.com.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements.” Forward-looking statements include statements that are based on various assumptions (some of which are beyond the Company’s control) and may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the USPS’s terminations or non-renewals of leases, changes in demand for postal services delivered by the USPS, the solvency and financial health of the USPS, competitive, financial market and regulatory conditions, general real estate market conditions, the Company’s competitive environment and other factors set forth under “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Contact:
Investor Relations and Media Relations
Email: Investorrelations@postalrealtytrust.com
Phone: (516) 232-8900
Source: Postal Realty Trust, Inc.
