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Boston Properties Announces 2016 Tax Treatment of Its Distributions

BOSTON--(BUSINESS WIRE)--Jan. 17, 2017-- Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced today the 2016 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
2016

     

2016
Taxable
Ordinary
Dividends

     

2016
Qualified
Dividends
(1)

     

2016
Short-
term
Capital
Gain (1)

     

2016 Total
Capital Gain
Distribution

     

2016
Unrecaptured
Section 1250
Gain (2)

  12/31/2015       1/28/2016       $1.900000 (3)           $0.544953 $0.493212 $0.001146 $0.000210 $0.051741 $0.019243
3/31/2016 4/29/2016 $0.650000 $0.650000 $0.588285 $0.001367 $0.000250 $0.061715 $0.022952
6/30/2016 7/29/2016 $0.650000 $0.650000 $0.588285 $0.001367 $0.000250 $0.061715 $0.022952
9/30/2016 10/31/2016 $0.650000 $0.650000 $0.588285 $0.001367 $0.000250 $0.061715 $0.022952
12/30/2016 1/30/2017 $0.750000           $0.558873       $0.505810       $0.001175       $0.000215       $0.053063       $0.019735
 
$4.600000 $3.053826 $2.763877 $0.006422 $0.001175 $0.289949 $0.107834
100% 90.5054% 9.4946%

(1) These amounts are a subset of, and included in, the 2016 Taxable Ordinary Dividends amounts.
(2) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2016 Total Capital Gain Distribution amount.
(3) Amount consists of a $1.25 per share special distribution and a $0.65 per share regular quarterly distribution.

The common stock distribution with a record date of December 31, 2015 is a split-year distribution with $0.544953 allocable to 2016 for federal income tax purposes. The common stock distribution with a record date of December 30, 2016 will be a split-year distribution with $0.558873 allocable to 2016 for federal income tax purposes and $0.191127 allocable to 2017 for federal income tax purposes.

                             

Series B Preferred (CUSIP #101121408)

                       
 

Record
Date

     

Payment
Date

     

Total
Distribution
per
Depositary
Share (1)

         

Total
Distribution
Allocable to
2016

     

2016
Taxable
Ordinary
Dividends

     

2016
Qualified
Dividends (2)

     

Short-
term
Capital
Gain (2)

     

2016 Total
Capital
Gain
Distribution

     

2016
Unrecaptured
Section 1250
Gain (3)

2/5/2016 2/16/2016 $0.328125 $0.328125 $0.296971 $0.000690 $0.000126 $0.031154 $0.011587
5/5/2016 5/16/2016 $0.328125 $0.328125 $0.296971 $0.000690 $0.000126 $0.031154 $0.011587
8/5/2016 8/15/2016 $0.328125 $0.328125 $0.296971 $0.000690 $0.000126 $0.031154 $0.011587
11/4/2016 11/15/2016 $0.328125           $0.328125       $0.296971       $0.000690       $0.000126       $0.031154       $0.011587
 
$1.312500 $1.312500 $1.187884 $0.002760 $0.000504 $0.124616 $0.046348
100% 90.5054% 9.4946%

(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 2016 Taxable Ordinary Dividends amounts.
(3) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2016 Total Capital Gain Distribution amount.

Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 47.7 million square feet and consisting of 164 office properties (including six properties under construction), five retail properties, four residential properties (including two properties under construction) and one hotel. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in five markets—Boston, Los Angeles, New York, San Francisco and Washington, DC.

For more information about Boston Properties, please visit our web site at www.bostonproperties.com.

Source: Boston Properties, Inc.

Boston Properties, Inc.
Mike LaBelle, 617-236-3352
Executive Vice President
Chief Financial Officer
or
Michael Walsh, 617-236-3460
Senior Vice President
Chief Accounting Officer