VICI Properties Inc. Announces Tax Treatment of 2018 Dividends

Stockholders should consult with their tax advisors to determine whether this requirement affects any portion of the dividends included in Box 5.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Thursday, January 31, 2019
Information
Tags: 
REIT, Construction & Property, Commercial Building & Real Estate, Dividends, Corporate finance, Finance, Economy, Dividend, Income tax in the United States, Ex-dividend date, Dividend tax, Retained earnings
Geotags: 
United States, NEW YORK
⚠generated by AI ↴
Summary
Key Points: 
  • Stockholders should consult with their tax advisors to determine whether this requirement affects any portion of the dividends included in Box 5.
  • (3) Pursuant to IRC Section 857(b)(9), cash dividends made on January 10, 2019 with a record date of December 28, 2018 are treated as received by stockholders on December 28, 2018 to the extent of 2018 earnings and profits.
  • As the Companys aggregate 2018 cash dividends exceeded its 2018 earnings and profits, a portion of the January 2019 cash dividend declared in the fourth quarter of 2018 was treated as a 2019 dividend for federal income tax purposes and not included on the 2018 Form 1099.
  • VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip.


VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or the “Company”),
an experiential real estate investment trust, today announced the tax
treatment of its 2018 common stock dividends. Stockholders are
encouraged to consult with their personal tax advisors as to their
specific tax treatment of VICI Properties’ dividends. The following
table summarizes the Company’s common stock dividend payments for the
tax year ended December 31, 2018:

 
Tax Treatment of 2018 Dividends

Record
Date

 

Payment
Date

 

Total Cash
Dividend
Per Share

    Adjustment    

Total
Dividend
Allocable
to
2018

   

Ordinary
Dividend
%

 

Section 199A
Dividends
(% of Ordinary
Dividends)
(1)
3/29/2018 4/13/2018 $0.1600 (2) $0.0000 $0.1600 100.00% 100.00%
6/28/2018 7/13/2018 $0.2625 $0.0000 $0.2625 100.00% 100.00%
9/28/2018 10/11/2018 $0.2875 $0.0000 $0.2875 100.00% 100.00%
12/28/2018 1/10/2019 $0.2875       $0.0724   (3)   $0.2151 (3) 100.00% 100.00%
        $0.9975       $0.0724       $0.9251            

(1) Treasury Regulation §1.199A-3(c)(2)(ii) requires that
stockholders hold their REIT shares for at least 45 days in order for
the dividends to be treated as Section 199A Dividends. Stockholders
should consult with their tax advisors to determine whether this
requirement affects any portion of the dividends included in Box 5.

(2) The dividend was pro-rated for the period commencing upon
the closing of the Company’s initial public offering and ending on March
31, 2018, based on a quarterly dividend rate of $0.2625 per share.

(3) Pursuant to IRC Section 857(b)(9), cash dividends made on
January 10, 2019 with a record date of December 28, 2018 are treated as
received by stockholders on December 28, 2018 to the extent of 2018
earnings and profits. As the Company’s aggregate 2018 cash dividends
exceeded its 2018 earnings and profits, a portion of the January 2019
cash dividend declared in the fourth quarter of 2018 was treated as a
2019 dividend for federal income tax purposes and not included on the
2018 Form 1099. If you were a stockholder of record as of December 28,
2018, $0.2151 is reported on your 2018 Form 1099 and $0.0724 will be
reported on your 2019 Form 1099.

About VICI Properties

VICI Properties is an experiential real estate investment trust that
owns one of the largest portfolios of market-leading gaming, hospitality
and entertainment destinations, including the world-renowned Caesars
Palace. VICI Properties’ national, geographically diverse portfolio
consists of 22 gaming facilities comprising approximately 39 million
square feet and features approximately 14,800 hotel rooms and more than
150 restaurants, bars and nightclubs. Its properties are leased to
Caesars Entertainment Corporation and Penn National Gaming, Inc., two
leading gaming and hospitality companies. VICI Properties also owns four
championship golf courses and 34 acres of undeveloped land adjacent to
the Las Vegas Strip. VICI Properties’ strategy is to create the nation’s
highest quality and most productive experiential real estate portfolio.
For additional information, please visit www.viciproperties.com.

Copyright: 
Copyright Business Wire 2019