Duke Realty Corporation Announces 2005 Dividend Tax Characteristics

Duke Realty Corporation, a leading real estate company in the United States, has announced the income tax characteristics of its 2005 common and preferred share dividends. This information is crucial for foreign shareholders to satisfy U.S. federal income tax withholding obligations under Section 1.1445-8 of the federal income tax regulations. The company has characterized the unrecaptured Section 1250 gain and long-term capital gain portions of the dividends as capital gain dividends, which may affect corporate shareholders' tax treatment.

Key Takeaways:

• Duke Realty Corporation has characterized the unrecaptured Section 1250 gain and long-term capital gain portions of the 2005 common and preferred share dividends as capital gain dividends.
• For corporate shareholders, the Section 291(a) preference item is 4.316229% of total dividend distributions.
• The company did not incur any foreign taxes in 2005, which may impact shareholders' tax obligations.
• Shareholders are encouraged to consult with their tax advisors for specific tax treatment of Duke Realty Corporation dividends.
• Duke Realty Corporation specializes in the ownership, construction, development, leasing, and management of office and industrial real estate.
• The company's properties encompass approximately 103 million rentable square feet leased by approximately 3,500 tenants.
• Duke Realty Corporation has approximately 4,500 acres of undeveloped land that can support approximately 64 million square feet of future development.
• The company selectively pursues medical office and retail development opportunities, as well as nationwide opportunities through its National Development and Construction Group.

Statistics:

• 4.316229%: The Section 291(a) preference item as a percentage of total dividend distributions for corporate shareholders.
• 103 million: The approximate rentable square feet of Duke Realty Corporation's properties.
• 3,500: The approximate number of tenants leasing space from the company.
• 4,500: The number of acres of undeveloped land that can support approximately 64 million square feet of future development.
• 64 million: The approximate square feet of future development potential on the company's undeveloped land.

Sources:

• Duke Realty Corporation press release, April 2006 (no specific date provided)
• Duke Realty Corporation website, www.dukerealty.com (no specific date provided)