Burnham Pacific Properties Inc. announces tax status of 1994 dividend.SAN DIEGO--(BUSINESS WIRE)--Feb. 13, 1995--Burnham Pacific Properties Inc. (NYSE NYSE See: New York Stock Exchange :BPP (Bits Per Pixel) See bit depth. bpp - bits per pixel ) Monday announced that with respect to its dividend disbursements made in 1994, 32.97 percent is considered to be a return of capital and 67.03 percent is taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. for federal-income-tax purposes. In addition, 42.69 percent is considered to be a return of capital and 57.31 percent is taxable income for California-income- tax purposes. The dividend was increased twice in 1994, in the third and fourth quarter, bringing the total 1994 dividend to $1.415. The four quarterly dividends paid in 1994 marked Burnham Pacific's 112th-115th consecutive cash dividend payments. Burnham Pacific Properties is a self-administered, self-managed, publicly traded real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) with 24 commercial properties located in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Los Angeles, Orange and Santa Clara counties. CONTACT: Burnham Pacific Properties Inc., San Diego Jeffrey R. Fisher, 619/232-2001 |
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