Terreno Realty Corporation Announces Tax Treatment of 2016 Dividends

SAN FRANCISCO--()--Terreno Realty Corporation (NYSE:TRNO) , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today the income tax treatment of its 2016 distributions to holders of its common and preferred stock.

For holders of Terreno Realty Corporation common stock, the 2016 dividend of approximately $0.74 per share includes three quarterly distributions declared and paid in 2016 and one quarterly distribution declared in 2015 and paid in 2016. The dividend characteristics are as follows:

                       
2016 Ordinary 2016 Capital 2016 Return of
Dividend Taxable Gain Capital

 Security 

Record Date Date Paid

 per Share 

Dividend Dividend Dividend
Common stock December 31, 2015 January 14, 2016 $ 0.180000 $ 0.133780 $ 0.019448 $ 0.026772
Common stock March 28, 2016 April 12, 2016 $ 0.180000 $ 0.133780 $ 0.019448 $ 0.026772
Common stock July 7, 2016 July 21, 2016 $ 0.180000 $ 0.133780 $ 0.019448 $ 0.026772
Common stock October 7, 2016 October 21, 2016 $ 0.200000 $ 0.148644 $ 0.021610 $ 0.029746
Total $ 0.740000 $ 0.549984 $ 0.079954 $ 0.110062

Dividend as a % of total

74.3% 10.8% 14.9%
 

The $0.20 common stock dividend that was declared on November 1, 2016 and paid on January 13, 2017 will be considered a distribution made in 2017 for U.S. federal income tax purposes.

For holders of Terreno Realty Corporation preferred stock, the dividend characteristics of the 2016 dividends are as follows:

                       
2016 Ordinary 2016 Capital 2016 Return of
Dividend Taxable Gain Capital

 Security 

Record Date Date Paid

 per Share 

Dividend Dividend Dividend
Preferred stock March 10, 2016 March 31, 2016 $ 0.484375 $ 0.422895 $ 0.061480 $ -
Preferred stock June 10, 2016 June 30, 2016 $ 0.484375 $ 0.422895 $ 0.061480 $ -
Preferred stock September 9, 2016 September 30, 2016 $ 0.484375 $ 0.422895 $ 0.061480 $ -
Preferred stock December 9, 2016

December 30, 2016

$ 0.484375 $ 0.422895 $ 0.061480 $ -
Total $ 1.937500 $ 1.691580 $ 0.245920 $ -
Dividend as a % of total 87.3% 12.7% 0.0%
 

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”, and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2015 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts

Terreno Realty Corporation
W. Blake Baird, 415-655-4580
Michael A. Coke, 415-655-4580

Contacts

Terreno Realty Corporation
W. Blake Baird, 415-655-4580
Michael A. Coke, 415-655-4580