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Spirit Realty Capital, Inc. Announces 2019 Dividend Tax Allocation

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Spirit Realty Capital, Inc. (NYSE: SRC) ("SRC", "Spirit" or the "Company"), announced today the calculation of the tax status of its 2019 common stock (CUSIP #84860W300) and Series A Preferred Stock (CUSIP# 84860W201) dividends.

The following is an allocation of the 2019 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 %

12/31/18

01/15/19

$0.62500

$0.483924

$0.091314

$0.129193

$0.112660

$0.011883

1.9013%

03/29/19

04/15/19

$0.62500

$0.483924

$0.091314

$0.129193

$0.112660

$0.011883

1.9013%

06/28/19

07/15/19

$0.62500

$0.483924

$0.091314

$0.129193

$0.112660

$0.011883

1.9013%

09/30/19

10/15/19

$0.62500

$0.483924

$0.091314

$0.129193

$0.112660

$0.011883

1.9013%

Total

$2.50000

$1.935696

$0.365256

$0.516772

$0.450640

$0.047532

1.9013%

(1)

The 2019 "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, 2020, with a record date of December 31, 2019, will be allocated to the 2020 tax year.

The following is an allocation of the 2019 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 %

03/15/19

03/29/19

$0.375000

$0.295982

$0.055850

$0.079018

$0.068906

$0.000000

0.0000%

06/14/19

06/28/19

$0.375000

$0.295982

$0.055850

$0.079018

$0.068906

$0.000000

0.0000%

09/13/19

09/30/19

$0.375000

$0.295982

$0.055850

$0.079018

$0.068906

$0.000000

0.0000%

12/13/19

12/31/19

$0.375000

$0.295982

$0.055850

$0.079018

$0.068906

$0.000000

0.0000%

Total

$1.500000

$1.183928

$0.223401

$0.316072

$0.275624

$0.000000

0.0000%

(1)

The 2019 "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 the Company’s transfer agent, American Stock Transfer & Company, LLC at (866) 703-9065.

ABOUT SPIRIT REALTY

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

As of September 30, 2019, our diversified portfolio was comprised of 1,623 owned properties and 43 properties securing mortgage loans. Our owned properties, with an aggregate gross leasable area of approximately 30.3 million square feet, are leased to 260 tenants across 48 states and 31 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 and future events or results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to: industry and economic conditions; volatility and uncertainty in the financial markets, including potential fluctuations in the Consumer Price Index; Spirit's continued ability to implement its business strategy and source new investments; risks associated with using debt to fund Spirit's business activities (including refinancing and interest rate risks, changes in interest rates and/or credit spreads, changes in the price of Spirit's common stock, conditions of the equity and debt capital markets, and ability to access debt and equity capital markets, generally); Spirit's ability to pay down, refinance, restructure and/or extend its indebtedness as it becomes due; Spirit's ability to identify, underwrite, finance, consummate, integrate and manage diversifying acquisitions or investments; unknown liabilities acquired in connection with acquired properties or interests in real-estate related entities; general risks affecting the real estate industry and local real estate markets (including, without limitation, the market value of Spirit's properties, the inability to enter into or renew leases at favorable rates, portfolio occupancy varying from Spirit's expectations, dependence on tenants' financial condition and operating performance, competition from other developers, owners and operators of real estate, tenant defaults, potential liability relating to environmental matters, potential illiquidity of real estate investments, condemnations, and potential damage from natural disasters); the financial performance of Spirit's tenants and the demand for retail and restaurant space, particularly with respect to challenges being experienced by general merchandise retailers; risks associated with Spirit's failure or unwillingness to maintain its status as a REIT under the Internal Revenue Code of 1986, as amended; Spirit's ability to diversify its tenant base; 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 and other additional risks discussed in Spirit's most recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. All forward-looking statements are based on information that was available, and speak only, as of the date on which they were made. 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.

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Contacts

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