Centerspace Unveils 2024 Tax Treatment for Share Distributions

Overview of Centerspace's 2024 Dividend Allocations

Centerspace (NYSE: CSR) has publicly disclosed its tax treatment for the year 2024 regarding distributions on both common and preferred shares. As we navigate the complexities of investing, it’s essential for shareholders to be aware of how these distributions will be categorized for tax purposes. In this simple guide, we offer insights into the dividend allocations that Centerspace will implement and how they can impact your financial decisions.

Understanding Tax Treatment for Shareholders

In 2024, Centerspace shareholders will receive a Form 1099-DIV summarizing the tax treatment of their distributions. This form will detail the classification of each allocation, helping investors understand the tax implications. It is strongly recommended that shareholders consult with their tax advisors to gain clarity on how these distributions will be treated in their individual financial situations.

Key Dates for Dividend Distributions

Identifying and keeping track of important dates related to dividend distributions is crucial for shareholders. Below are the highlighted dates for common and preferred shares:

Common Shares

The following schedule outlines the record and payable dates along with the cash distribution amounts for Centerspace's common shares in 2024:

• Record Date: 12/29/2023
• Payable Date: 01/12/2024
• Cash Distribution: $0.730 per share

Subsequent distributions for common shares include:

• Record Date: 03/28/2024
• Payable Date: 04/08/2024
• Cash Distribution: $0.750 per share

Preferred Shares Overview

Additionally, Centerspace's Series C Preferred shares also have a defined schedule for chances of dividends:

• Record Date: 03/15/2024
• Payable Date: 03/28/2024
• Cash Distribution: $0.4140625 per share

Shareholders should pay attention to further distributions that will occur on a structured timeline throughout the year.

Considerations for Your Tax Planning

Each type of distribution, whether ordinary taxable dividends or capital gains, can have a different impact on your overall taxable income. Understanding the distinctions is vital. Ordinary dividends, as noted, will be reported in Box 1a of Form 1099-DIV. Additionally, qualified dividends and capital gains will each be categorized separately, impacting how much tax you owe during tax season.

About Centerspace

Centerspace is a dedicated owner and operator of multifamily apartment communities. With a history spanning over five decades, Centerspace remains committed to enhancing the living standards of its residents through integrity and service. Currently managing 71 apartment communities comprising 13,012 homes, the company extends its reach into various regions.

Operating with a strong commitment to excellence, Centerspace was recognized as a top workplace for the fifth consecutive year in 2024, validating its dedication to its team and residents alike. The company continues to evolve and adapt in the multifamily housing sector, always focusing on what matters most – creating great communities.

Contact Information

For more inquiries or detailed explanations regarding dividend allocations and tax impacts, feel free to reach out to:
Josh Klaetsch, Investor Relations
Phone: (952) 401-6600

Frequently Asked Questions

What is the significance of the 1099-DIV form?

The 1099-DIV form provides details about the dividends received by shareholders, which are crucial for understanding tax obligations related to those distributions.

How should I approach tax planning for my dividends?

It is advisable to consult a tax professional to discuss how your dividend income will affect your overall tax liability and financial situation.

What are the dividend amounts for common shares in 2024?

Common shares will receive a cash distribution of $0.730 on January 12, 2024, and $0.750 on April 8, 2024.

Have any awards or recognitions been given to Centerspace?

Yes, Centerspace was named a top workplace for the fifth consecutive year in 2024 by the Minneapolis Star Tribune.

Who can I contact for more information about Centerspace?

Investors or interested parties can contact Josh Klaetsch, the Investor Relations representative, at (952) 401-6600.

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Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. If any of the material offered here is inaccurate, please contact us for corrections.