HORSHAM, Pa.--(BUSINESS WIRE)--Capmark Financial Group Inc. (the “Company”) announced that its Board of Directors has declared a cash distribution of $1.65 per share to holders of the Company’s common stock, totaling approximately $165 million. The distribution will be paid on September 27, 2013 to shareholders of record as of the close of business on September 23, 2013.
On or before September 27, 2013, the Company will post to its website its estimate of the percentage of this distribution that it believes will be treated by shareholders as a dividend for federal income tax purposes. The tax treatment of the distribution cannot be concluded with certainty until after the 2013 year end has closed and will be reported to shareholders in the first quarter of 2014.
The book value per share of the Company’s common stock will be reduced by an amount equal to the distribution per share.
Shareholders are encouraged to consult with their financial and tax advisors regarding the circumstances of their individual situation. The Company does not provide advice on tax matters to its shareholders or to broker/nominees who hold the Company’s shares on behalf of their customers. The information above in this release is not intended to, and cannot, be used by any taxpayer to avoid penalties that may be imposed under U.S. federal income tax law.
Certain statements in this release may constitute forward-looking statements. These statements are based on management’s current expectations and beliefs but are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements are made only as of the date of this release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.
Capmark is a real estate finance company focused on the management of its commercial real estate-related assets and businesses with a view to maximizing their value. Capmark is headquartered in Horsham, Pennsylvania and operates principally in North America. www.capmark.com