ATLANTA, Jan. 22, 2020 /PRNewswire/ -- Cousins Properties CUZ announced today the year-end tax reporting information for its 2019 distributions and the 2019 distributions of TIER REIT, Inc., which merged with the Company on June 14, 2019. Due to the one-for-four reverse stock split which occurred on June 14, 2019, Cousins' distributions for the tax year ended December 31, 2019 are reported on two separate Forms 1099-DIV as follows:
CUSIP: 222795106 from January 1, 2019 to June 14, 2019 1
Record | Paid Date | Total | Ordinary | Capital Gain | Unrecaptured | Section |
1/4/2019 | 1/14/2019 | $0.065000 | $0.034294 | $0.030706 | $0.000000 | $0.034294 |
4/3/2019 | 4/15/2019 | $0.072500 | $0.071299 | $0.001201 | $0.000000 | $0.071299 |
1 Does not reflect one-for-four reverse stock split. | ||||||
CUSIP: 222795502 from June 15, 2019 to December 31, 2019
Record | Paid Date | Total | Ordinary | Capital Gain Distributions | Unrecaptured | Section |
7/3/2019 | 7/15/2019 | $0.290000 | $0.290000 | $0.000000 | $0.000000 | $0.290000 |
10/3/2019 | 10/15/2019 | $0.290000 | $0.270761 | $0.019239 | $0.000000 | $0.270761 |
1 Represents unrecaptured section 1250 gain included in capital gain distributions. | ||||||
Additionally, distributions for stockholders of TIER REIT, Inc. prior to the merger with Cousins on June 14, 2019, are classified as follows:
CUSIP: 88650V208
Record | Paid | Total | Ordinary | Capital Gain Distributions | Unrecaptured | Nondividend | Section |
3/15/19 | 3/29/19 | $0.180000 | $0.00000 | $0.00000 | $0.000000 | $0.180000 | $0.00000 |
1 Represents unrecaptured section 1250 gain included in capital gain distributions. | |||||||
This release has been prepared with the information available to date because the Company's and TIER REIT, Inc.'s tax returns have not yet been filed. The tax consequences of these distributions to each stockholder depend on such stockholder's particular facts and circumstances. Stockholders are thus encouraged to consult with their tax advisors as to the U.S. federal, state, local, and non-U.S. tax treatment of these distributions. No material change in the taxable classifications is expected.
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. For more information, please visit www.cousins.com.
CONTACT:
Roni Imbeaux
Vice President, Finance & Investor Relations
404-407-1104
RImbeaux@cousins.com
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SOURCE Cousins Properties
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