Public Storage Announces Tax Treatment of 2020 Dividends
January 19 2021 - 7:33PM
Business Wire
Public Storage (NYSE:PSA) announced today the tax treatment of
the Company’s 2020 dividends. For the tax year ended December 31,
2020, 100% of the distributions for the PSA common stock and all
the various series of preferred stock were classified as ordinary
income. The Company did not declare a capital gain distribution,
nor did it have any unrecaptured section 1250 gain for 2020.
The ordinary income dividends are not “qualified dividend
income.”
For shareholders other than corporations the ordinary dividends
are “qualified REIT dividends” under the qualified business income
provisions enacted as part of the Tax Cuts and Jobs Act of
2017.
This release is based on the preliminary results of work on the
Company’s tax filings and is subject to correction or adjustment
when the filings are completed. The Company is releasing
information at this time to aid those required to distribute Forms
1099 on the Company’s distributions. No material change in the
classification is expected.
If you have questions, please consult your tax advisor for
further guidance.
Company Information
Public Storage, a member of the S&P 500 and FT Global 500,
is a REIT that primarily acquires, develops, owns and operates
self-storage facilities. At September 30, 2020, we had: (i)
interests in 2,504 self-storage facilities located in 38 states
with approximately 171 million net rentable square feet in the
United States, (ii) an approximate 35% common equity interest in
Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239
self-storage facilities located in seven Western European nations
with approximately 13 million net rentable square feet operated
under the “Shurgard” brand and (iii) an approximate 42% common
equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned
and operated approximately 28 million rentable square feet of
commercial space at September 30, 2020. Our headquarters are
located in Glendale, California.
Additional information about Public Storage is available on the
Internet. The Company’s website is PublicStorage.com.
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Ryan Burke (818) 244-8080, Ext. 1141
Public Storage (NYSE:PSA)
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