DUKE REALTY CORPORATION

(DRE)
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Duke Realty Corporation (NYSE: DRE) Announces the Income Tax Characteristics of its 2021 Common Share Dividends

01/18/2022 | 04:16pm EDT

INDIANAPOLIS, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Duke Realty Corporation (NYSE: DRE) announces the income tax characteristics of its 2021 common share dividends. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Duke Realty Corporation’s dividends.

Common Share Dividends:
Ticker Symbol DRE, CUSIP # 264411505


Payment
Date
Total 2021
Distribution
Per Share


Total
Ordinary
Dividends


Qualified
Dividends


(1)
Total Capital
Gain
Distribution


Unrecaptured
Section 1250
Gain

(2)
Section
199A
Dividends

(3)
Form 1099
-DIV Box
Number
 


1a
1b2a2b5
2/26/2021$0.255000$0.233247$0.012764$0.021753$0.010730$0.220483
6/1/20210.2550000.2332470.0127640.0217530.0107300.220483
8/31/20210.2550000.2332470.0127640.0217530.0107300.220483
11/30/20210.2800000.2561140.0140150.0238860.0117820.242099
2021 Totals$1.045000$0.955855$0.052307$0.089145$0.043972$0.903548
Percentage100.0000%91.4694% 8.5306%  
(1)   Qualified Dividends are a subset of, and are included in, the Total Ordinary Dividends amount reported in box 1a of Form 1099-DIV.
(2)   Unrecaptured Sec. 1250 Gain is a subset of, and is included in, the Total Capital Gain Distribution amount reported in box 2a of Form 1099-DIV.
(3)   Section 199A Dividends are a subset of, and are included in, the Total Ordinary Dividends amount reported in box 1a of Form 1099-DIV.

For corporate shareholders, the Section 291(a) preference item is 0.8416% of total dividend distributions. The company did not incur any foreign taxes in 2021. For purposes of satisfying U.S. federal income tax withholding obligations under Section 1.1445-8 of the federal income tax regulations with respect to payments to foreign shareholders, Duke Realty Corporation characterizes the long-term capital gain portion of the dividends, including the Unrecaptured Section 1250 gain, described above as capital gain dividends.

Pursuant to Treas. Reg. § 1.1061-6(c), none of the capital gain dividends reported in Form 1099-DIV box 2a relate to the “One or Three Year Amounts Disclosure” for purposes of Section 1061 of the Internal Revenue Code. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests.”

For shareholders whose income maintains its character when passed through or distributed to direct or indirect foreign owners or beneficiaries, the Section 897 gain reportable in box 2e is $0, and the gain reportable in box 2f is equivalent to the box 2a capital gain distribution amounts in the above table. Note that Section 897 gain amounts in boxes 2e and 2f are not applicable to U.S. individual shareholders.

About Duke Realty Corporation

Duke Realty Corporation owns and operates approximately 160 million rentable square feet of industrial assets in 19 key U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500 Index. More information about Duke Realty Corporation is available at www.dukerealty.com.

Investor Relations Contact:Tax Contact:
  
Ron HubbardStephanie York
(317) 808-6060(317) 808-6000


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Financials (USD)
Sales 2022 1 137 M - -
Net income 2022 528 M - -
Net Debt 2022 4 657 M - -
P/E ratio 2022 39,2x
Yield 2022 2,08%
Capitalization 20 953 M 20 953 M -
EV / Sales 2022 22,5x
EV / Sales 2023 20,4x
Nbr of Employees 340
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 54,50 $
Average target price 63,86 $
Spread / Average Target 17,2%
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Managers and Directors
James B. Connor Chairman, President & Chief Executive Officer
Mark A. Denien Chief Financial Officer & Executive Vice President
Steven W. Schnur Vice President-Leasing
Nicholas C. Anthony Chief Investment Officer & Executive VP
Lynn C. Thurber Independent Director
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