Terreno Realty Corporation Announces Tax Treatment of 2016 Dividends

SAN FRANCISCO--(BUSINESS WIRE)--

Terreno Realty Corporation TRNO , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today the income tax treatment of its 2016 distributions to holders of its common and preferred stock.

For holders of Terreno Realty Corporation common stock, the 2016 dividend of approximately $0.74 per share includes three quarterly distributions declared and paid in 2016 and one quarterly distribution declared in 2015 and paid in 2016. The dividend characteristics are as follows:

													2016 Ordinary				2016 Capital				2016 Return of
									Dividend				Taxable				Gain				Capital
Security			Record Date			Date Paid			per Share				Dividend				Dividend				Dividend
Common stock			December 31, 2015			January 14, 2016			$	0.180000			$	0.133780			$	0.019448			$	0.026772
Common stock			March 28, 2016			April 12, 2016			$	0.180000			$	0.133780			$	0.019448			$	0.026772
Common stock			July 7, 2016			July 21, 2016			$	0.180000			$	0.133780			$	0.019448			$	0.026772
Common stock			October 7, 2016			October 21, 2016			$	0.200000			$	0.148644			$	0.021610			$	0.029746
			Total						$	0.740000			$	0.549984			$	0.079954			$	0.110062
			Dividend as a % of total											74.3%				10.8%				14.9%

The $0.20 common stock dividend that was declared on November 1, 2016 and paid on January 13, 2017 will be considered a distribution made in 2017 for U.S. federal income tax purposes.

For holders of Terreno Realty Corporation preferred stock, the dividend characteristics of the 2016 dividends are as follows:

													2016 Ordinary				2016 Capital				2016 Return of
									Dividend				Taxable				Gain				Capital
Security			Record Date			Date Paid			per Share				Dividend				Dividend				Dividend
Preferred stock			March 10, 2016			March 31, 2016			$	0.484375			$	0.422895			$	0.061480			$	-
Preferred stock			June 10, 2016			June 30, 2016			$	0.484375			$	0.422895			$	0.061480			$	-
Preferred stock			September 9, 2016			September 30, 2016			$	0.484375			$	0.422895			$	0.061480			$	-
Preferred stock			December 9, 2016			December 30, 2016			$	0.484375			$	0.422895			$	0.061480			$	-
			Total						$	1.937500			$	1.691580			$	0.245920			$	-
			Dividend as a % of total											87.3%				12.7%				0.0%

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.

Additional information about Terreno Realty Corporation is available on the company's web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management's beliefs and on assumptions made by, and information currently available to, management. When used, the words "anticipate", "believe", "estimate", "expect", "intend", "may", "might", "plan", "project", "result", "should", "will", and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2015 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise.

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