Public Storage Announces Tax Treatment of 2017 Dividends

Public Storage (NYSE:PSA) announced today the tax treatment of the Company’s 2017 dividends. For the tax year ended December 31, 2017, distributions for the PSA common stock and all the various series of preferred stock were classified as follows:

						2017
						1st Quarter				2nd Quarter				3rd Quarter				4th Quarter
			Ordinary Income			99.9257	%			99.9195

%

100.0000

%

99.4648

%

Long-Term Capital Gain 0.0743 %

0.0805

%

0.0000

%

0.5352

%

        Total 100.0000 %

100.0000

%

100.0000 %

100.0000

%

 

The ordinary income dividends do not constitute “qualified dividend income.”

For the first and second quarters of 2017, the percentages of the long-term capital gain that constitute unrecaptured section 1250 gain are 0.2623% and 91.4554% respectively. Corporate shareholders subject to IRC §291 should treat 20% of the unrecaptured section 1250 gain as ordinary income.

This release is based on the preliminary results of work on the Company’s tax filings and is subject to correction or adjustment when the filings are completed. The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company’s distributions. No material change in the classification is expected.