Boston Properties Announces 2020 Tax Treatment of Its Distributions

January 19, 2021
PDF Version

BOSTON--(BUSINESS WIRE)--Jan. 19, 2021-- Boston Properties, Inc. (NYSE: BXP), the largest publicly traded owner and manager of Class A office properties in the United States, announced today the 2020 tax treatment of distributions on its common stock and 5.25% Series B Cumulative Redeemable Preferred Stock, as described below. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment to them of these distributions.

Common Shares (CUSIP #101121101)

Record
Date

 

Payment
Date

 

Total
Distribution
per Share

 

Total
Distribution
Allocable to
2020

 

2020
Taxable
Ordinary
Dividends

 

2020
Qualified
Dividends
(1)

 

2020
Short-
term
Capital
Gain (1)

 

2020 Total
Capital Gain
Distribution

 

2020
Unrecaptured
Section 1250
Gain (2)

 

2020
Section
199A
Dividends
(1)

 

2020 Non-
taxable
Distribution
(Return of
Capital)

12/31/2019

  

1/30/2020

  

$0.980000

  

$0.940748

  

$0.610620

  

$0.004601

  

$0.002679

  

$0.239847

  

$0.029352

  

$0.603340

  

$0.090281

3/31/2020

  

4/30/2020

  

$0.980000

  

$0.980000

  

$0.636097

  

$0.004793

  

$0.002791

  

$0.249854

  

$0.030577

  

$0.628513

  

$0.094049

6/30/2020

  

7/31/2020

  

$0.980000

  

$0.980000

  

$0.636097

  

$0.004793

  

$0.002791

  

$0.249854

  

$0.030577

  

$0.628513

  

$0.094049

9/30/2020

  

10/30/2020

  

$0.980000

  

$0.980000

  

$0.636097

  

$0.004793

  

$0.002791

  

$0.249854

  

$0.030577

  

$0.628513

  

$0.094049

12/31/2020

  

1/28/2021

  

$0.980000

  

$0.000000

  

$0.000000

  

$0.000000

  

$0.000000

  

$0.000000

  

$0.000000

  

$0.000000

  

$0.000000
   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

$4.900000

  

$3.880748

  

$2.518911

  

$0.018980

  

$0.011052

  

$0.989409

  

$0.121083

  

$2.488879

  

$0.372428
   

 

 

100%

 

64.9079%

 

 

 

 

 

25.4953%

 

 

 

 

 

9.5968%

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) These amounts are a subset of, and included in, the 2020 Taxable Ordinary Dividend amounts.

(2) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2020 Total Capital Gain Distribution amount.

The common stock distribution with a record date of December 31, 2019 is a split-year distribution with $0.940748 allocable to 2020 for federal income tax purposes. The entire common stock distribution with a record date of December 31, 2020 will be allocable to 2021 for federal income tax purposes.

Series B Preferred (CUSIP #101121408)

Record
Date

 

Payment
Date

 

Total
Distribution
per
Depository
Share (1)

 

Total
Distribution
Allocable to
2020

 

2020
Taxable
Ordinary
Dividends

 

2020
Qualified
Dividends
(2)

 

2020
Short-
term
Capital
Gain (2)

 

2020 Total
Capital Gain
Distribution

 

2020
Unrecaptured
Section 1250
Gain (3)

 

2020
Section
199A
Dividends
(2)

 

2020 Non-
taxable
Distribution
(Return of
Capital)

2/4/2020

  

2/18/2020

  

$0.328125

  

$0.328125

  

$0.235588

  

$0.001775

  

$0.001034

  

$0.092537

  

$0.011325

  

$0.232779

  

$0.000000

5/1/2020

  

5/15/2020

  

$0.328125

  

$0.328125

  

$0.235588

  

$0.001775

  

$0.001034

  

$0.092537

  

$0.011325

  

$0.232779

  

$0.000000

8/3/2020

  

8/17/2020

  

$0.328125

  

$0.328125

  

$0.235588

  

$0.001775

  

$0.001034

  

$0.092537

  

$0.011325

  

$0.232779

  

$0.000000

11/4/2020

  

11/16/2020

  

$0.328125

  

$0.328125

  

$0.235588

  

$0.001775

  

$0.001034

  

$0.092537

  

$0.011325

  

$0.232779

  

$0.000000
   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

$1.312500

  

$1.312500

  

$0.942352

  

$0.007100

  

$0.004136

  

$0.370148

  

$0.045300

  

$0.931116

  

$0.000000
   

 

 

100%

 

71.7982%

 

 

 

 

 

28.2018%

 

 

 

 

 

0.0000%

                     

(1) Each depositary share represents 1/100th of a share of Series B Preferred Stock.

(2) These amounts are a subset of, and included in, the 2020 Taxable Ordinary Dividends amounts.

(3) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2020 Total Capital Gain Distribution amount.

Boston Properties (NYSE: BXP) is the largest publicly held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company’s portfolio totals 51.2 million square feet and 196 properties, including seven properties under construction. For more information about Boston Properties, please visit our web site at www.bxp.com.

AT THE COMPANY
Mike LaBelle
Executive Vice President
Chief Financial Officer and Treasurer
617.236.3352

Michael Walsh
Senior Vice President
Chief Accounting Officer
617.236.3460

Source: Boston Properties, Inc.