Saul Centers, Inc. Announces Tax Treatment of 2024 Dividends

PR Newswire

BETHESDA, Md., Jan. 23, 2025

BETHESDA, Md., Jan. 23, 2025 /PRNewswire/ -- Saul Centers, Inc. $(BFS)$, an equity real estate investment trust $(REIT)$, announced today the income tax treatment of its 2024 dividends. During 2024, the Company declared and paid four quarterly dividends on its Common Stock totaling $2.36 per common share. For tax purposes, 71.66% of the dividends ($1.69 per common share) are characterized as ordinary income and 28.34% of the dividends ($0.67 per common share) are characterized as return of capital. The information will be reported to shareholders on Form 1099-DIV and the ordinary income portion will be reported as section 199A dividends.

During 2024, the Company declared and paid the following dividends on its preferred stock:

   -- Four dividends totaling $1.53125 per depositary share on its 6.125% 
      Series D Preferred Stock; and 
 
   -- Four dividends totaling $1.50000 per depositary share on its 6.000% 
      Series E Preferred Stock 

For tax purposes, 100.0% of the Preferred Stock dividends are characterized as ordinary income. The information will be reported to shareholders on Form 1099-DIV and will be reported as section 199A dividends.

Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 62 properties which includes (a) 58 community and neighborhood shopping centers and mixed-use properties with approximately 10.2 million square feet of leasable area and (b) four land and development properties. Over 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.

More information about Saul Centers, Inc. is available on the Company's website at www.SaulCenters.com.

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SOURCE Saul Centers, Inc.

/CONTACT: Carlos Heard at (301) 986-7737

(END) Dow Jones Newswires

January 23, 2025 10:35 ET (15:35 GMT)