Home Properties Reports Taxable Composition of 2010 Dividends

ROCHESTER, N.Y., Jan. 18, 2011 /PRNewswire/ -- Home Properties (NYSE: HME) today reported the taxable composition of its 2010 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 2010 are as follows:

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Home Properties is a publicly traded apartment real estate investment trust that owns, operates, develops, acquires and rehabilitates apartment communities primarily in selected Northeast and Mid-Atlantic markets.  Currently, Home Properties owns and operates 116 communities containing 38,861 apartment units.  For more information, visit Home Properties' website at homeproperties.com.

SOURCE Home Properties