CBL & Associates Properties Announces Tax Reporting Information for 2002 Common and Preferred Share Distributions.Business Editors CHATTANOOGA Chattanooga (chăt'ən  `gə), city (1990 pop. 152,466), seat of Hamilton co., E Tenn., on both sides of the Tennessee River near the Georgia line; inc. 1839. , Tenn.--(BUSINESS WIRE)--Jan. 10, 2003CBL Cbl cobalamin. & Associates Properties, Inc. (NYSE NYSE See: New York Stock Exchange :CBL) today announced the tax reporting information (Federal 1099) for the year 2002 distributions on its common shares, Series A 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. and Series B Preferred stock. The income tax treatment for the 2002 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:
Declaration Record Payable
Dates Dates Dates
----------- --------- ---------
03-12-02 03-29-02 04-16-02
06-13-02 06-28-02 07-16-02
09-12-02 09-30-02 10-18-02
10-29-02 12-27-02 01-15-03
Distribution Type
---------------------------------------------------------------
Distributions Ordinary Return Long-Term Long-Term
Per Share Taxable of Capital Capital
Dividend Capital Gain (25%) Gain (20%)
----------- --------- --------- ---------- ----------
$ 0.5550 $ 0.5485 $ 0.0000 $ 0.0065 $ 0.0000
$ 0.5550 $ 0.5485 $ 0.0000 $ 0.0065 $ 0.0000
$ 0.5550 $ 0.5485 $ 0.0000 $ 0.0065 $ 0.0000
$ 0.6550 $ 0.6473 $ 0.0000 $ 0.0077 $ 0.0000
----------- --------- --------- ---------- ----------
TOTALS $ 2.3200 $ 2.2928 $ 0.0000 $ 0.0272 $ 0.0000
===============================================================
PERCENT 100.00% 98.83% 0.00% 1.17% 0.00%
===============================================================
Each common distribution includes an Alternative Minimum Tax ("AMT See vPro. ") adjustment of 3.132% 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 2002 distributions for CBL & Associates Properties, Inc., Series A Preferred Stock CUSIP # 124830-20-9 on the NYSE traded under ticker symbol "CBL-A" is as follows:
Declaration Record Payable
Dates Dates Dates
----------- --------- ---------
03-01-02 03-15-02 03-29-02
06-07-02 06-14-02 06-28-02
09-03-02 09-15-02 09-30-02
12-02-02 12-15-02 12-30-02
Distribution Type
--------------------------------------------------
Distributions Ordinary Long-Term Long-Term
Per Share Taxable Capital Capital
Dividend Gain (25%) Gain (20%)
----------- --------- ---------- ----------
$ 0.5625 $ 0.5559 $ 0.0066 $ 0.0000
$ 0.5625 $ 0.5559 $ 0.0066 $ 0.0000
$ 0.5625 $ 0.5559 $ 0.0066 $ 0.0000
$ 0.5625 $ 0.5559 $ 0.0066 $ 0.0000
----------- --------- --------- ----------
TOTALS $ 2.2500 $ 2.2236 $ 0.0264 $ 0.0000
==================================================
PERCENT 100.00% 98.83% 1.17% 0.00%
==================================================
Each Series A preferred distribution includes an Alternative Minimum Tax ("AMT") adjustment of 3.132% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI"). The income tax treatment for the 2002 distributions for CBL & Associates Properties, Inc., Series B Preferred Stock CUSIP # 124830-30-8 on the NYSE traded under ticker symbol "CBL-B" is as follows:
Declaration Record Payable
Dates Dates Dates
----------- --------- ---------
06-14-02 06-15-02 07-01-02
09-03-02 09-15-02 09-30-02
12-02-02 12-15-02 12-30-02
Distribution Type
-------------------------------------------------
Distributions Ordinary Long-Term Long-Term
Per Share Taxable Capital Capital
Dividend Gain (25%) Gain (20%)
----------- --------- ---------- ----------
$ 0.2066 $ 0.2042 $ 0.0024 $ 0.0000
$ 1.0938 $ 1.0810 $ 0.0128 $ 0.0000
$ 1.0938 $ 1.0810 $ 0.0128 $ 0.0000
----------- --------- --------- ----------
TOTALS $ 2.3942 $ 2.3662 $ 0.0280 $ 0.0000
==================================================
PERCENT 100.00% 98.83% 1.17% 0.00%
==================================================
Each Series B preferred distribution includes an Alternative Minimum Tax ("AMT") adjustment of 3.132% to increase each dividend recipient's Alternative Minimum Taxable Income ("AMTI"). The Company did not incur To become subject to and liable for; to have liabilities imposed by act or operation of law. Expenses are incurred, for example, when the legal obligation to pay them arises. An individual incurs a liability when a money judgment is rendered against him or her by a court. any foreign taxes. This information represents final income allocations. CBL & Associates Properties, Inc. has a portfolio of 159 properties, including 55 enclosed en·close also in·close tr.v. en·closed, en·clos·ing, en·clos·es 1. To surround on all sides; close in. 2. To fence in so as to prevent common use: enclosed the pasture. malls, in 25 states totaling 58.4 million square feet including 2.1 million square feet of non-owned shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into managed for third parties. The Company has five projects under construction totaling approximately 2.5 million square feet, including one mall, one associated center and three community centers plus two mall renovations. In addition to its office in Chattanooga, TN, the Company has a regional office in Boston (Waltham), MA. The Company can be found on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at www.cblproperties.com. Information included herein 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. " 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion