January 17, 2017
Public Storage Announces Tax Treatment of 2016 Dividends
Public Storage (NYSE:PSA) announced today the tax treatment of the Company’s 2016 dividends. For the tax year ended December 31, 2016 , 100% of distributions for the PSA common stock and all the various series of preferred stock were classified as ordinary income. The Company did not declare a capital gain distribution, nor did it have any undistributed long-term capital gain for 2016. The ordinary income dividends do not constitute “qualified dividend income.” This release is based on the preliminary results of work on the Company’s tax filings and is subject to correction or adjustment when the filings are completed. The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company’s distributions. No material change in the classification is expected. Alternative Minimum Tax Alternative minimum tax adjustments are to be apportioned between a real estate investment trust (“REIT”) and its shareholders under Internal Revenue Code Section...