NEW YORK--(BUSINESS WIRE)--
Paramount Group, Inc. (NYSE:PGRE) (“Paramount” or the “Company”) today announced the 2016 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount’s dividends.
Common Shares (CUSIP #69924R108)
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2016 Non- |
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Total |
taxable |
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Total |
Dividends |
2016 Taxable |
Total Capital |
Dividend |
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Record |
Payable |
Dividends per |
Allocable to |
Ordinary |
2016 Qualified |
Gain |
(Return of |
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Date |
Date |
Share |
2016 |
Dividends |
Dividends (1) |
Distribution |
Capital) |
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| 12/31/15 | 01/15/16 | $0.095000 | $0.095000 | $0.026742 | $0.000206 | $0.000000 | $0.068258 | ||||||||||||||
| 03/31/16 | 04/15/16 | $0.095000 | $0.095000 | $0.026742 | $0.000206 | $0.000000 | $0.068258 | ||||||||||||||
| 06/30/16 | 07/15/16 | $0.095000 | $0.095000 | $0.026742 | $0.000206 | $0.000000 | $0.068258 | ||||||||||||||
| 09/30/16 | 10/14/16 | $0.095000 | $0.095000 | $0.026742 | $0.000206 | $0.000000 | $0.068258 | ||||||||||||||
| Totals for 2016 | $0.380000 | $0.380000 | $0.106968 | $0.000824 | $0.000000 | $0.273032 | |||||||||||||||
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(1) Qualified Dividends are a subset of, and included in, the 2016 Taxable Ordinary Dividends amount. |
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During 2016 the Company incurred approximately $28.4 million of costs, primarily for swap breakage and defeasance, in connection with refinancing and repaying various property level debt, which resulted in a reduction of its 2016 taxable income of approximately $0.11 per common share.
The common dividend declared on December 15, 2016, payable on January 13, 2017 to shareholders of record as of December 30, 2016 is allocable to 2017 for federal income tax purposes.
This release is based on the preliminary results of work on Paramount’s tax filings and may be subject to adjustment. Paramount is releasing information at this time to aid those required to distribute Form 1099 on Paramount’s distributions.
About Paramount Group, Inc.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.
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