America First Apartment Investors, Inc. Announces Tax Status of 2003 Dividends.Business Editors OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--Jan. 30, 2004 America First America First may refer to:
APRO Asia Pacific Regional Organization APRO Adjusted Production (baseball statistic) APRO Army Personnel Research Office ) today announced how it expects 2003 dividends on its common stock to be classified for federal income tax purposes. The following is based upon preliminary work on the Company's tax filings and is subject to finalization Writing the table of contents (TOC) on a recordable CD or DVD disc. The finalization process ensures that the disc can be played back on most CD and DVD players. See disc-at-once. or adjustment when the filings are complete.
Record Payable Cash Ordinary Capital Post-May Unrecaptured
Date Date Dividends Income Gain 5th Section
per Share (Line Distri- Capital 1250 Gain
1a) bution Gain (Line 2d)
(Line Distri-
2a) bution
(Line 2b)
----------------------------------------------------------------------
03/31/03 4/30/03 $0.250 $0.226 $0.024 $0.014 $0.010
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06/30/03 7/31/03 $0.250 $0.226 $0.024 $0.014 $0.010
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09/30/03 10/31/03 $0.250 $0.226 $0.024 $0.014 $0.010
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Total $0.750 $0.678 $0.072 $0.042 $0.030
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The Company's fourth quarter dividend of $ 0.25, which is payable on February 2, 2004, to shareholders of record on December 31, 2003, will be included in 2004 for tax purposes. The 2003 dividend characterization is 90% ordinary income primarily due to the nonrecurring receipt of $2.7 million of accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. realized in connection with the sale of Jefferson Place Apartments. Though the Jefferson Place sale did result in the payment of substantial proceeds to the Company, the unique characterization of these proceeds as interest income caused 90% of the 2003 dividends to be characterized as ordinary income. Excluding the Jefferson Place transaction, only 20% of the 2003 dividend amount would have been classified as ordinary income. Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , the Company's transfer agent, will distribute copies of IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. Form 1099 at the end of January 2004 to 2003 shareholders of record. The Company recommends shareholders also consult their tax professional to determine how dividend distributions should be reported on state and federal tax forms. America First Apartment Investors is an equity real estate investment trust focused on the ownership and management of multifamily apartment properties located throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The portfolio currently includes 15 multifamily properties and one commercial property. America First Apartment Investors' press releases and more information about the Company are available at www.am1st.com. Information contained in this Press Release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc , without limitation, future performance, plans and objectives of management for future operations and projections of revenue and other financial items, which can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "anticipate," "estimate" or "continue" or the negative thereof or other variations thereon or comparable terminology. Several factors with respect to such forward-looking statements, including certain risks and uncertainties, could cause actual results to differ materially from those in such forward-looking statements. |
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