Understanding Rexford Industrial's 2024 Dividend Distribution Tax Implications

Rexford Industrial's Announcement on Dividend Tax Treatment for 2024

Rexford Industrial Realty, Inc. (NYSE: REXR), a real estate investment trust (REIT) dedicated to enhancing value through investment in industrial properties, recently informed shareholders about the tax treatment associated with dividend distributions for the year 2024. Investors are encouraged to consult with their own tax advisors regarding how the company's dividend distributions will affect their tax obligations.

Tax Treatment for Common Stock

The common stock of Rexford Industrial has a CUSIP Number of 76169C100. The planned distribution per share for its common stock for 2024 is $0.380000, which shareholders will receive on January 16, 2024. The record date for this payment is December 29, 2023. Notably, this distribution will be considered as paid in two tax years for income tax purposes, with an estimated 80.07% of the distribution, or $0.304254 per share, allocable to the 2024 tax year.

Future Distributions Scheduled

In addition to the above, another significant payment is set for January 15, 2025, for a total of $0.417500 per share, to shareholders on record as of December 31, 2024. This payment is to be regarded as a distribution for the tax year 2025.

Series B Preferred Stock Tax Information

For those holding Series B Preferred Stock, identified by CUSIP Number 76169C308, a distribution of $0.367188 per share is scheduled for March 28, 2024. Important tax considerations apply since shareholders will need to review their tax implications as it pertains to the ordinary dividends and qualified dividends associated with this payment.

Details of Preferred Stock Payments

This issuance is significant, as it relates not just to ordinary dividends, but also informs on tax impacts concerning Section 199A dividends, thus affecting higher-income earners who might benefit from a deduction related to qualified dividends.

Series C Preferred Stock Overview

The Series C Preferred Stock, with a CUSIP Number of 76169C407, will likewise offer a payment of $0.351563 per share, payable on March 28, 2024, with details for the record date previously communicated.

Implications of the Tax Cuts and Jobs Act

It is critical to note that the Tax Cuts and Jobs Act allows a potential deduction for individual shareholders equal to 20% of ordinary dividends distributed by a REIT, providing additional layers of opportunities for shareholders to maximize their returns. Understanding these clauses can be vital for financial planning and investment approaches.

About Rexford Industrial Realty

Rexford Industrial focuses on investing, operating, and redeveloping key industrial properties across a high-demand market. The firm operates 424 properties comprising nearly 50 million rentable square feet, all occupied by a diverse and stable roster of tenants. As a member of the S&P MidCap 400 Index and listed on the New York Stock Exchange under the ticker REXR, Rexford Industrial stands out as a robust investment choice in the industrial sector.

Frequently Asked Questions

What is the primary focus of Rexford Industrial Realty?

Rexford Industrial primarily focuses on creating value through investing in, operating, and redeveloping industrial properties.

How much is the dividend distribution for common stock in 2024?

The dividend distribution for common stock in 2024 is set at $0.380000 per share.

What should shareholders consider regarding tax implications?

Shareholders should consult with personal tax advisors regarding how the company's dividend distributions may affect their specific tax situations.

What role does the Tax Cuts and Jobs Act play for shareholders?

The Tax Cuts and Jobs Act allows individuals to deduct 20% of ordinary dividends distributed by a REIT, potentially lowering their taxable income.

Why is it important to follow Rexford Industrial announcements?

Staying updated on Rexford Industrial announcements ensures investors are informed about potential impacts on their investments, particularly concerning dividends and tax issues.

About The Author

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