Developers Diversified Realty Corporation Announces 2005 Dividend Tax Allocations

Strategic Insights -

Developers Diversified Realty Corporation, a leading real estate investment trust (REIT), has announced the tax allocations of the 2005 dividend distributions on its common shares and four series of preferred shares. The company's Form 1099-DIV summarizes the allocation of 2005 common share dividends, which will be reported on shareholders' 2005 federal income tax returns. The schedule provided offers a breakdown of the 2005 taxable dividend income per share, which includes only a portion of the distribution paid on January 6, 2005. This distribution was taxable in 2004 and reflected in the 2004 Form 1099-DIV.

Key Takeaways:

  • The 2005 taxable dividend income includes only a portion of the distribution paid on January 6, 2005, while the other portion was taxable in 2004.
  • The Form 1099-DIV summarizes the allocation of 2005 common share dividends and should be reported on shareholders' 2005 federal income tax returns.
  • The company's common shares have a total market value of approximately $1.14 billion (as of January 2006).
  • Developers Diversified currently manages over 500 operating and development retail properties in 44 states and Puerto Rico, comprising approximately 114 million square feet.
  • The company is a self-administered and self-managed REIT operating as a fully integrated real estate company.
  • Developers Diversified considers portions of this information to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934.

Statistics:

  • 114 million square feet of retail properties managed by Developers Diversified (as of January 2006)
  • 44 states and Puerto Rico where Developers Diversified manages retail properties (as of January 2006)
  • Approximately $1.14 billion market value of Developers Diversified common shares (as of January 2006)
  • 500+ operating and development retail properties managed by Developers Diversified (as of January 2006)

Sources:

  • Developers Diversified Realty Corporation (Market Wire, Jan 10, 2006)
  • Developers Diversified Realty Corporation's Form 10-K (as of December 31, 2004)