Please ensure Javascript is enabled for purposes of website accessibility

Saul Centers announces tax treatment of 2021 dividends

Saul Centers Inc., an equity real estate investment trust (REIT) headquartered in Bethesda, announced Thursday the income tax treatment of its 2021 dividends.

During 2021, the company declared and paid four quarterly dividends on its common stock totaling $2.16 per share. For tax purposes, 69.07% of the dividends ($1.49 per common share) are characterized as ordinary income, while 30.93% of the dividends ($0.67 per common share) are characterized as return of capital. The information will be reported to shareholders on Form 1099-DIV and the ordinary income portion will be reported as section 199A dividends.

During 2021, the company declared and paid the following dividends on its preferred stock:

  • Four dividends totaling $1.53125 per depositary share on its 6.125% Series D Preferred Stock
  • Four dividends totaling $1.50000 per depositary share on its 6.000% Series E Preferred Stock
  • For tax purposes, 100% of the Preferred Stock dividends are characterized as ordinary income. The information will be reported to shareholders on Form 1099-DIV and will be reported as section 199A dividends.

Saul Centers Inc. currently operates and manages a real estate portfolio of 61 properties which includes 50 community and neighborhood shopping centers and seven mixed-use properties with about 9.8 million square feet of leasable area and four land and development properties. Approximately 85% of the Saul Centers’ property operating income is generated by properties in the metropolitan Washington/Baltimore area.