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Terreno Realty Corporation Announces Tax Treatment of 2021 Dividends

Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today the income tax treatment of its 2021 dividend distributions to holders of its common stock.

For holders of Terreno Realty Corporation common stock, the 2021 distribution of $1.28 per share includes one quarterly distribution declared in 2020 and paid in 2021, three quarterly distributions declared and paid in 2021, and a portion of one quarterly distribution declared in 2021 and paid in 2022. The distribution characteristics are as follows:

Record Date Date Paid

Dividend

per Share

 

2021 Ordinary

Taxable

Dividend

 

2021 Total

Capital Gain

Dividend

 

2021 Return

of Capital

Dividend

 

2021

Unrecaptured


Section 1250

Gain (1)

 

2021 Section

199A Dividend (2)

December 15, 2020 January 5, 2021

$ 0.290000

$ 0.278630

$ 0.011370

$ -

$ 0.000861

$ 0.278630

March 26, 2021 April 9, 2021

$ 0.290000

$ 0.278630

$ 0.011370

$ -

$ 0.000861

$ 0.278630

June 30, 2021 July 14, 2021

$ 0.340000

$ 0.326669

$ 0.013331

$ -

$ 0.001009

$ 0.326669

October 1, 2021 October 15, 2021

$ 0.340000

$ 0.326669

$ 0.013331

$ -

$ 0.001009

$ 0.326669

December 15, 2021 January 5, 2022

$ 0.022806

$ 0.021912

$ 0.000894

$ -

$ 0.000068

$ 0.021912

Total

$ 1.282806

$ 1.232510

$ 0.050296

$ -

$ 0.003808

$ 1.232510

Dividend as a % of total

96.1%

3.9%

0.0%

0.3%

96.1%

(1)

The 2021 Unrecaptured Section 1250 Gain is a subset of, and is included in, the 2021 Total Capital Gain Dividend amount.

(2)

2021 Section 199A Dividends are a subset of, and are included in, the 2021 Ordinary Taxable Dividends.

Approximately $0.02 of the $0.34 distribution that was declared on November 2, 2021 and paid on January 5, 2022 will be considered a distribution made in 2021 for U.S. federal income tax purposes.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2020 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

Contacts

Jaime Cannon

415-655-4580

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