CBL & Associates Properties, Inc. (NYSE: CBL) today announced the tax reporting (Federal 1099) information for the 2007 distributions on its Common, Series B Preferred, Series C Preferred, and Series D Preferred shares.
The income tax treatment for the 2007 distributions for CBL & Associates Properties, Inc., Common Stock CUSIP # 124830-10-0 traded on the NYSE under ticker symbol "CBL" is as follows:
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Distribution Type / Form 1099-DIV Box | |||||||||||||||||||
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Declaration Dates | Record Dates | Payable Dates | Distributions Per Share | Ordinary Taxable Dividend (Box 1a) | Return of Capital / Non-Dividend Distributions (Box 3) | Total Long-Term Capital Gain (Box 2a) | Unrecap. Sec. 1250 Gain (1) (Box 2b) | ||||||||||||
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02/27/07 | 03/30/07 | 04/13/07 | $ | 0.5050 | $ | 0.4345583 | $ | 0.0612709 | $ | 0.0091708 | $ | - | |||||||
06/08/07 | 06/29/07 | 07/13/07 | $ | 0.5050 | $ | 0.3797721 | $ | 0.1172133 | $ | 0.0080146 | $ | - | |||||||
09/07/07 | 09/28/07 | 10/15/07 | $ | 0.5050 | $ | 0.3797721 | $ | 0.1172133 | $ | 0.0080146 | $ | - | |||||||
11/06/07 | 12/28/07 | 01/15/08 | $ | 0.5450 | $ | 0.4098530 | $ | 0.1264976 | $ | 0.0086494 | $ | - | |||||||
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Totals | $ | 2.0600 | $ | 1.6039555 | $ | 0.42219510 | $ | 0.0338494 | $ | - | |||||||||
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Percent | 100.00% | 77.86% | 20.49% | 1.65% | 0.00% | ||||||||||||||
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(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a). | |||||||||||||||||||
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Each common distribution includes an Alternative Minimum Tax ("AMT") adjustment of 2.82% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI").
The fourth quarter common stock dividends declared in December, 2007 and paid January 15, 2008 are deemed to be paid on December 31, 2007 and, therefore, reportable in the 2007 tax year.
The income tax treatment for the 2007 distributions for CBL & Associates Properties, Inc., Series B Preferred Stock CUSIP # 124830-30-8 on the NYSE traded under ticker symbol "CBL-PB" is as follows:
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Distribution Type / Form 1099-DIV Box | ||||||||||||||||
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Declaration Dates | Record Dates | Payable Dates | Distributions Per Share | Ordinary Taxable Dividend (Box 1a) | Total Long-Term Capital Gain (Box 2a) | Unrecap. Sec. 1250 Gain (1) (Box 2b) | ||||||||||
02/27/07 | 03/15/07 | 03/30/07 | $ | 1.09375 | $ | 1.0711448 | $ | 0.0226052 | $ | - | ||||||
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Totals | $ | 1.09375 | $ | 1.0711448 | $ | 0.0226052 | $ | - | ||||||||
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Percent | 100.00% | 97.93% | 2.07% | 0.00% | ||||||||||||
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(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a). | ||||||||||||||||
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Each Series B preferred distribution includes an Alternative Minimum Tax ("AMT") adjustment of 2.82% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI").
The income tax treatment for the 2007 distributions for CBL & Associates Properties, Inc., Series C Preferred Stock CUSIP # 124830-40-7 on the NYSE traded under ticker symbol "CBL-PC" is as follows:
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Distribution Type / Form 1099-DIV Box | ||||||||||||||||
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Declaration Dates | Record Dates | Payable Dates | Distributions Per Share | Ordinary Taxable Dividend (Box 1a) | Total Long-Term Capital Gain (Box 2a) | Unrecap. Sec. 1250 Gain (1) (Box 2b) | ||||||||||
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02/27/07 | 03/15/07 | 03/30/07 | $ | 0.484375 | $ | 0.4743641 | $ | 0.0100109 | $ | - | ||||||
06/08/07 | 06/15/07 | 06/29/07 | $ | 0.484375 | $ | 0.4743641 | $ | 0.0100109 | $ | - | ||||||
09/07/07 | 09/14/07 | 09/28/07 | $ | 0.484375 | $ | 0.4743641 | $ | 0.0100109 | $ | - | ||||||
11/06/07 | 12/17/07 | 12/28/07 | $ | 0.484375 | $ | 0.4743641 | $ | 0.0100109 | $ | - | ||||||
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Totals | $ | 1.937500 | $ | 1.8974564 | $ | 0.0400436 | $ | - | ||||||||
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Percent | 100.00% | 97.93% | 2.07% | 0.00% | ||||||||||||
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(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a). | ||||||||||||||||
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Each Series C preferred distribution includes an Alternative Minimum Tax ("AMT") adjustment of 2.82% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI").
The income tax treatment for the 2007 distributions for CBL & Associates Properties, Inc., Series D Preferred Stock CUSIP # 124830-60-5 on the NYSE traded under ticker symbol "CBL-PD" is as follows:
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Distribution Type / Form 1099-DIV Box | ||||||||||||||||
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Declaration Dates | Record Dates | Payable Dates | Distributions Per Share | Ordinary Taxable Dividend (Box 1a) | Total Long-Term Capital Gain (Box 2a) | Unrecap. Sec. 1250 Gain (1) (Box 2b) | ||||||||||
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02/27/07 | 03/15/07 | 03/30/07 | $ | 0.4609375 | $ | 0.4514110 | $ | 0.0095265 | $ | - | ||||||
06/08/07 | 06/15/07 | 06/29/07 | $ | 0.4609375 | $ | 0.4514110 | $ | 0.0095265 | $ | - | ||||||
09/07/07 | 09/14/07 | 09/28/07 | $ | 0.4609375 | $ | 0.4514110 | $ | 0.0095265 | $ | - | ||||||
11/06/07 | 12/17/07 | 12/28/07 | $ | 0.4609375 | $ | 0.4514110 | $ | 0.0095265 | $ | - | ||||||
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Totals | $ | 1.8437500 | $ | 1.8056440 | $ | 0.0381060 | $ | - | ||||||||
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Percent | 100.00% | 97.93% | 2.07% | 0.00% | ||||||||||||
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(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a). | ||||||||||||||||
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Each Series D preferred distribution includes an Alternative Minimum Tax ("AMT") adjustment of 2.82% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI").
None of the dividends above represent "qualified dividend income and, therefore, are not eligible for reduced rates.
The Company did not incur any foreign taxes. This information represents FINAL income allocations.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 162 properties, including 84 regional malls/open-air centers. The properties are located in 27 states and total 82.8 million square feet including 1.8 million square feet of non-owned shopping centers managed for third parties. CBL currently has eleven projects under construction totaling 2.9 million square feet including Pearland Town Center, Houston (Pearland), TX; Settlers Ridge in Pittsburgh, PA; CBL Center II in Chattanooga, TN; two lifestyle/associated centers, five mall expansions/redevelopments, and one community center. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas, TX, and St. Louis, MO. Additional information can be found at http://cblproperties.com.
Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" incorporated by reference therein, for a discussion of such risks and uncertainties.