CenterPoint Announces Tax Treatment of 2004 Dividends.OAK BROOK, Ill. -- CenterPoint Properties Trust (NYSE NYSE See: New York Stock Exchange :CNT (Carbon NanoTube) See nanotube. ) today announced the tax treatment of 2004 dividends on its Common Shares (NYSE:CNT) and 7.50% Series B Convertible Cumulative Redeemable 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. (NYSE:CNT-pB). Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of CenterPoint dividends. The company's total 2004 distribution of $1.56 per share of common stock, CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. #151895 10 9, traded under the symbol CNT, is to be classified for income tax purposes as follows: --$0.50 per share (32%) is classified as return of capital --$1.06 per share (68%) qualifies as ordinary 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. The Company's total distribution of $3.75 per share of 7.50% Series B Convertible Cumulative Redeemable Preferred Shares, CUSIP #151895 30 7, is classified as 100% ordinary taxable dividends. About CenterPoint Properties CenterPoint is a publicly traded real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) and the largest industrial property company in the 1.3-billion-square-foot Chicago regional market. As of September 30, 2004, the Company owned or operated approximately 37 million square feet and the Company and its affiliates owned or controlled an additional 3,138 acres of land upon which approximately 48 million square feet could be developed. The Company is focused on providing unsurpassed tenant satisfaction and adding value to its shareholders through customer driven management, investment, development and redevelopment of warehouse, distribution, light manufacturing buildings and logistics infrastructure. The first major REIT to focus on the industrial property sector, CenterPoint has a total market capitalization Total Market Capitalization The total market value of all of a firm's outstanding securities. of approximately $3.0 billion. Statements in this release which are not historical may be deemed forward-looking statements under federal securities laws. There can be no assurance that future results will be achieved and actual results could differ materially from forecasts and estimates. Factors that could cause actual results to differ materially are general business and economic conditions, completion of pending acquisitions, competitive market conditions, weather, pricing of debt and equity capital markets and other risks inherent in the real estate business. Such factors and others are listed in the Company's Form 10-K and 10-Qs. |
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