Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
MEMPHIS, Tenn., Jan. 23, 2014 /PRNewswire/ -- MAA (NYSE: MAA) today announces the taxable composition of Colonial Properties Trust 2013 distributions paid to shareholders. The amount of distribution referred to as return of capital is considered by the Internal Revenue Service to be a return of invested capital and is not currently taxable. This amount should be applied to reduce the shareholders' tax cost basis of the related shares. The company did not incur any foreign taxes. The composition presented is applicable to all dividend distributions during 2013. The classifications for 2013 are as follows:
This release is based on the preliminary work the company has performed on its filings and is subject to correction or adjustment based on the completion of those filings. The company is releasing information at this time to aid those required to distribute 1099s on the company's dividends. No material change in the taxable composition is expected.
On October 1, 2013 MAA and Colonial Properties Trust completed the merger of the two companies, forming a combined company. The transaction was previously approved by both companies' shareholders at their respective meetings held on September 27, 2013. The combined company, headquartered in Memphis, TN, retains the MAA name and trades under the existing ticker symbol "MAA" on the New York Stock Exchange.
About MAA MAA is a self-managed real estate investment trust (REIT) that acquires, owns, and operates apartment communities across 14 states in the Sunbelt region of the United States. As of October 1, 2013, after giving effect to the merger with Colonial Properties Trust, MAA owned or had ownership interest in approximately 85,000 apartment units, including communities currently in development, focused on delivering full-cycle and superior investment performance for shareholders. For further details, please visit the MAA website at www.maac.com.