Home Properties Reports Taxable Composition Of 2009 Dividends

ROCHESTER, N.Y., Jan. 19 /PRNewswire-FirstCall/ -- Home Properties (NYSE: HME) today reported the taxable composition of its 2009 dividend payments on its Common Stock.  Due primarily to the on-going shelter provided by non-cash depreciation expenses, a portion of each distribution is treated as a return of capital by the Internal Revenue Service. This portion is not currently taxable and should be applied to reduce the tax cost basis of the shares upon which the dividends were paid.  The Company did not incur any foreign taxes.  The classifications for 2009 are as follows:

Home Properties is a publicly traded apartment real estate investment trust that owns, operates, develops, acquires and rehabilitates apartment communities primarily in selected Northeast, Mid-Atlantic and Southeast Florida markets. Currently, Home Properties operates 108 communities containing 37,107 apartment units. Of these, 35,957 units in 106 communities are owned directly by the Company; 868 units are partially owned and managed by the Company as general partner, and 282 units are managed for other owners. For more information, visit Home Properties’ Web site at homeproperties.com.

SOURCE Home Properties