EPR Properties (NYSE: EPR) today announced the 2023 year-end tax reporting information for 2023 distributions made to shareholders. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of EPR Properties distributions.
The 2023 distributions paid of $3.300000 per Common Share (CUSIP #26884U109) are as follows:
Record
|
Payment
|
Cash
|
Taxable
|
Non-
|
Total
|
Unrecaptured
|
Total 199A
|
12-30-22 | 01-17-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
01-31-23 | 02-15-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
02-28-23 | 03-15-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
03-31-23 | 04-17-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
04-28-23 | 05-15-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
05-31-23 | 06-15-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
06-30-23 | 07-17-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
07-31-23 | 08-15-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
08-31-23 | 09-15-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
09-29-23 | 10-16-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
10-31-23 | 11-15-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
11-30-23 | 12-15-23 | $0.275000 | $0.193731 | $0.081269 | $0.000000 | $0.000000 | $0.193731 |
Total for 2023 | $3.300000 | $2.324772 | $0.975228 | $0.000000 | $0.000000 | $2.324772 | |
100.000% | 70.448% | 29.552% | 0.000% | ||||
The 2023 total distributions per share of $1.674262, consisting of cash distributions paid of $1.437500 per share and non-cash distributions of $0.236762 per share, for the Series C 5.75% Cumulative Convertible Preferred Shares (CUSIP #26884U208) are as follows:
Record
|
Payment
|
Cash
|
Taxable
|
Non-
|
Total
|
Unrecaptured
|
Total 199A
|
12-30-22 | 01-17-23 | $0.359375 | $0.359375 | $0.000000 | $0.000000 | $0.000000 | $0.359375 |
03-31-23 | 04-17-23 | $0.359375 | $0.359375 | $0.000000 | $0.000000 | $0.000000 | $0.359375 |
06-30-23 | 07-17-23 | $0.359375 | $0.359375 | $0.000000 | $0.000000 | $0.000000 | $0.359375 |
09-29-23 | 10-16-23 | $0.359375 | $0.359375 | $0.000000 | $0.000000 | $0.000000 | $0.359375 |
Total for 2023 | $1.437500 | $1.437500 | $0.000000 | $0.000000 | $0.000000 | $1.437500 | |
100.000% | 100.000% | 0.000% | 0.000% | ||||
Effective Date |
Non-cash
|
Taxable
|
Non-
|
Total
|
Unrecaptured
|
Total 199A
| |
09-29-2023 | $0.178622 | $0.000000 | $0.178622 | $0.000000 | $0.000000 | $0.000000 | |
12-29-2023 | $0.058140 | $0.000000 | $0.058140 | $0.000000 | $0.000000 | $0.000000 | |
Total for 2023(1) | $0.236762 | $0.000000 | $0.236762 | $0.000000 | $0.000000 | $0.000000 | |
100.000% | 0.000% | 100.000% | 0.000% | ||||
The 2023 distributions paid of $2.250000 per share for the Series E 9.00% Cumulative Convertible Preferred Shares (CUSIP #26884U307) are as follows:
Record
|
Payment
|
Cash
|
Taxable
|
Non-
|
Total
|
Unrecaptured
|
Total 199A
|
12-30-22 | 01-17-23 | $0.562500 | $0.562500 | $0.000000 | $0.000000 | $0.000000 | $0.562500 |
03-31-23 | 04-17-23 | $0.562500 | $0.562500 | $0.000000 | $0.000000 | $0.000000 | $0.562500 |
06-30-23 | 07-17-23 | $0.562500 | $0.562500 | $0.000000 | $0.000000 | $0.000000 | $0.562500 |
09-29-23 | 10-16-23 | $0.562500 | $0.562500 | $0.000000 | $0.000000 | $0.000000 | $0.562500 |
Total for 2023 | $2.250000 | $2.250000 | $0.000000 | $0.000000 | $0.000000 | $2.250000 | |
100.000% | 100.000% | 0.000% | 0.000% | ||||
(1) | Shareholders of the Series C 5.75% Cumulative Convertible Preferred Shares and the Series E 9.00% Cumulative Preferred Shares received non-cash distributions associated with conversion adjustments, as provided by the provisions of the respective Series. The conversion adjustment provision entitles Series C and Series E shareholders, upon certain quarterly common share distribution thresholds being met, to receive additional EPR Properties common shares upon a conversion of the preferred shares into common shares. The increase in common shares to be received upon a conversion is a deemed distribution for federal income tax purposes. | |
In accordance with the respective Series provisions, the conversion adjustment is effective in quarters in which the change in the cumulative increased conversion ratio exceeds 1%. The deemed distributions are recognized (a) in the quarter when the cumulative conversion ratio exceeds 1% and (b) at December 29, 2023 for any conversion adjustment which has been deferred due to the cumulative increased conversion ratio being less than 1%. As such, a deemed distribution associated with the conversion adjustment for Series C is reflected in December, 2023. |
The 2023 total distributions paid per share of $1.437500 for the Series G 5.750% Cumulative Redeemable Preferred Shares (CUSIP #26884U505) are as follows:
| Record Date |
Payment
|
Cash
|
Taxable
|
Non-
|
Total
|
Unrecaptured
|
Total 199A
|
12-30-22 | 01-17-23 | $0.359375 | $0.359375 | $0.000000 | $0.000000 | $0.000000 | $0.359375 |
03-31-23 | 04-17-23 | $0.359375 | $0.359375 | $0.000000 | $0.000000 | $0.000000 | $0.359375 |
06-30-23 | 07-17-23 | $0.359375 | $0.359375 | $0.000000 | $0.000000 | $0.000000 | $0.359375 |
09-29-23 | 10-16-23 | $0.359375 | $0.359375 | $0.000000 | $0.000000 | $0.000000 | $0.359375 |
Total for 2023 | $1.437500 | $1.437500 | $0.000000 | $0.000000 | $0.000000 | $1.437500 | |
100.000% | 100.000% | 0.000% | 0.000% | ||||
About EPR Properties
EPR Properties (NYSE:EPR, Financial) is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have total assets of approximately $5.7 billion (after accumulated depreciation of approximately $1.4 billion) across 44 states. We adhere to rigorous underwriting and investing criteria centered on key industry, property and tenant level cash flow standards. We believe our focused approach provides a competitive advantage and the potential for stable and attractive returns. Further information is available at www.eprkc.com.
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