BETHESDA, Md., Jan. 16, 2019 /PRNewswire/ -- Saul Centers, Inc. (BFS), an equity real estate investment trust (REIT), announced today the income tax treatment of its 2018 dividends. The Company declared and paid four quarterly dividends totaling $2.08 per share of Common Stock during 2018. For tax purposes, 77.3% of the dividends ($1.61 per common share) are characterized as ordinary income, while 22.7% of the dividends ($0.47 per common share) are characterized as return of capital. The information will be reported to shareholders on Form 1099-DIV and the ordinary income portion will be reported as a section 199A dividend.
The Company declared and paid four dividends totaling $1.71875 per depositary share on its 6.875% Series C Preferred Stock during 2018. The Company also declared and paid three dividends totaling $1.05486 per depositary share on its 6.125% Series D Preferred Stock during 2018, with the April dividend prorated from its January 23, 2018 issuance date. For tax purposes, 100.0% of the Preferred Stock dividends are characterized as ordinary income. The information will be reported to shareholders on Form 1099-DIV and will be reported as a section 199A dividend.
Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 60 properties which includes (a) 49 community and neighborhood shopping centers and seven mixed-use properties with approximately 9.3 million square feet of leasable area and (b) four land and development properties. Over 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.
More information about Saul Centers, Inc. is available on the Company's website at www.SaulCenters.com.