CBL & Associates Properties Announces Tax Reporting Information for 2006 Common and Preferred Share Distributions.CHATTANOOGA, Tenn. -- CBL Cbl cobalamin. & Associates Properties, Inc. (NYSE NYSE See: New York Stock Exchange : CBL) today announced the tax reporting (Federal 1099) information for the 2006 distributions on its common, Series B Preferred, Series C Preferred, and Series D Preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. . The income tax treatment for the 2006 distributions for CBL & Associates Properties, Inc., Common Stock CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. # 124830-10-0 traded on the NYSE under ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "CBL" is as follows: [TABLE OMITTED] Each common distribution includes an Alternative Minimum Tax ("AMT See vPro. ") adjustment of 2.96% to increase each dividend recipient's Alternative Minimum 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. ("AMTI AMTI Applied Marine Technology Inc AMTI Advanced Mechanical Technology Inc (Watertown, MA) AMTI Applied Marine Technology, Inc. AMTI Advanced Medical Technology Institute AMTI Automatic Moving Target Indicator "). The income tax treatment for the 2006 distributions for CBL & Associates Properties, Inc., Series B Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. CUSIP # 124830-30-8 on the NYSE traded under ticker symbol "CBL-PB" is as follows: [TABLE OMITTED] Each Series B preferred distribution includes an Alternative Minimum Tax ("AMT") adjustment of 2.96% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI"). The income tax treatment for the 2006 distributions for CBL & Associates Properties, Inc., Series C Preferred Stock CUSIP # 124830-40-7 on the NYSE traded under ticker symbol "CBL-PC" is as follows: [TABLE OMITTED] Each Series C preferred distribution includes an Alternative Minimum Tax ("AMT") adjustment of 2.96% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI"). The income tax treatment for the 2006 distributions for CBL & Associates Properties, Inc., Series D Preferred Stock CUSIP # 124830-60-5 on the NYSE traded under ticker symbol "CBL-PD" is as follows: [TABLE OMITTED] Each Series D preferred distribution includes an Alternative Minimum Tax ("AMT") adjustment of 2.96% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI"). None of the dividends above represent "qualified dividend income" and therefore are not eligible for reduced rates. The Company did not incur any foreign taxes. This information represents FINAL income allocations. CBL is one of the largest and most experienced owners and developers of malls and shopping centers in the country. CBL owns, holds interests in or manages 130 properties, including 79 regional malls/open-air centers. The properties are located in 27 states and total 74.0 million square feet including 2.0 million square feet of non-owned shopping centers managed for third parties. CBL currently has thirteen projects under construction totaling 2.3 million square feet including Phase II of Gulf Coast Town Center in Ft. Myers, FL; Alamance Crossing in Burlington, NC; three lifestyle/associated centers; seven mall expansions, and a community center. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, and Dallas, TX. Additional information can be found at http://cblproperties.com. Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations" incorporated by reference therein, for a discussion of such risks and uncertainties. |
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