VEREIT, Inc. Announces Tax Treatment of 2020 Dividends

PHOENIX, Jan. 25, 2021 /PRNewswire/ -- VEREIT, Inc. ("VEREIT" or the "Company") announced the income tax classification of its 2020 dividends for the Company's common stock (NYSE: VER) ("Common Stock") and 6.70% Series F Cumulative Redeemable Preferred Stock (NYSE: VER-PF) ("Series F Preferred Stock"). The tables below summarize the income tax classification of the dividends paid and the corresponding box number on the 2020 Form 1099-DIV.  Due to the previously disclosed class action settlement, the Company will recognize a deduction in 2020 for the amounts contributed to the settlement fund for federal income tax purposes.  This deduction is the primary driver of the classification of the Company's 2020 dividends as nondividend distributions (Box 3) on the 2020 Form 1099-DIV.  Stockholders are encouraged to consult with their tax advisors as to their specific tax treatment of VER and VER PRF dividends.

VER Common Stock  |  CUSIP: 92339V308

VER PRF Series F Preferred Stock  |  CUSIP: 92339V209

About the Company
VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. VEREIT has total real estate investments of $14.6 billion including approximately 3,800 properties and 88.9 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties.  VEREIT is a publicly traded Maryland corporation listed on the New York Stock Exchange.  VEREIT uses, and intends to continue to use, its Investor Relations website, which can be found at www.VEREIT.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.  Additional information about VEREIT can be found through social media platforms such as Twitter and LinkedIn.

Forward-Looking Statements
Information set forth herein contains forward-looking statements, which reflect VEREIT's expectations regarding future results, events and plans, including expectations regarding VEREIT's 2020 tax reporting. Generally, the words "anticipates," "assumes," "believes," "continues," "could," "estimates," "expects," "goals," "intends," "may," "plans," "projects," "seeks," "should," "targets," "will," variations of such words and similar expressions identify forward-looking statements. These forward-looking statements are based on information currently available and involve a number of known and unknown assumptions and risks, uncertainties and other factors, which are difficult to predict and beyond VEREIT's control, that could cause actual events and plans or could cause VEREIT's business, financial condition, liquidity and results of operations to differ materially from those expressed or implied in the forward-looking statements.  These factors include the risks and uncertainties detailed from time to time in VEREIT's filings with the U.S. Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at www.sec.gov. VEREIT disclaims any obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of changes in underlying assumptions or factors, new information, future events or otherwise, except as required by law.

SOURCE VEREIT, Inc.

Related Links

http://www.vereit.com

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