Orion Office REIT Inc. Announces Tax Treatment for 2024 Dividends
Orion Office REIT Inc. (NYSE: ONL), a robust real estate investment trust, focuses on the strategic ownership and management of high-quality single-tenant net lease office properties. This announcement sheds light on how stockholders will categorize their dividends received in 2024.
Understanding Dividend Classification
The classification of dividends is a critical aspect for stockholders, influencing how taxes are applied. For the 2024 tax year, Orion Office REIT Inc. has shared specific details on the classification of the dividends paid out, inviting investors to consult their tax advisors for personalized guidance.
Details of the 2024 Dividend Payments
Orion has laid out the dividend payments as shown in the summary table below. Each payment listed will highlight the record date, payment date, distribution per share, and corresponding tax classifications on the 2024 Form 1099-DIV:
Record Date: December 29, 2023
Date Paid: January 16, 2024
Distribution per Share: $0.10
Ordinary Dividends (Box 1a): $0.00
Capital Gain Distribution (Box 2a): $0.00
Nondividend Distributions (Box 3): $0.10
Record Date: March 29, 2024
Date Paid: April 15, 2024
Distribution per Share: $0.10
Ordinary Dividends (Box 1a): $0.00
Capital Gain Distribution (Box 2a): $0.00
Nondividend Distributions (Box 3): $0.10
Record Date: June 28, 2024
Date Paid: July 15, 2024
Distribution per Share: $0.10
Ordinary Dividends (Box 1a): $0.00
Capital Gain Distribution (Box 2a): $0.00
Nondividend Distributions (Box 3): $0.10
Record Date: September 30, 2024
Date Paid: October 15, 2024
Distribution per Share: $0.10
Ordinary Dividends (Box 1a): $0.00
Capital Gain Distribution (Box 2a): $0.00
Nondividend Distributions (Box 3): $0.10
It's noteworthy that the classification for dividends does not include any dividends declared in November 2024 or paid in early 2025. These will be reportable in the 2025 tax year.
About Orion Office REIT Inc.
Orion Office REIT Inc. is an internally managed entity involved in the acquisition and management of a diverse range of office properties. The company primarily focuses on properties in suburban markets that feature single-tenant net leases with reputable tenants. This focus contributes to their stable portfolio, ensuring consistent income generation.
The portfolio consists of various asset types, including traditional office spaces, government offices, medical facilities, and research & development centers. Founded on July 1, 2021, Orion was spun off from Realty Income (NYSE: O) and began trading on the New York Stock Exchange shortly thereafter. Orion Office REIT has its headquarters in Phoenix with another office located in New York.
Frequently Asked Questions
What is the purpose of the tax classification announcement?
The announcement provides stockholders with essential information on how their 2024 dividends will be classified for tax purposes.
Why should stockholders consult with their tax advisors?
Tax implications can vary greatly depending on personal financial situations; thus, it's best to seek professional advice for accurate guidance.
How much is the dividend per share for Orion Office REIT Inc.?
Each dividend payment for 2024 is set at $0.10 per share, outlined in the provided summary.
What types of properties does Orion Office REIT manage?
Orion manages a diversified portfolio that includes traditional offices, government spaces, medical facilities, and more.
When are the dividends paid out?
The dividends for 2024 are structured to be paid out at various intervals throughout the year, according to the specified record and payment dates.
