Home Properties Reports Taxable Composition of 2011 Dividends

Published on Wednesday, 18 January 2012 10:02 Written by TradersHuddle Staff

ROCHESTER, N.Y., Jan. 18, 2012 /PRNewswire/ --  Home Properties (NYSE: HME) today reported the taxable composition of its 2011 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 2011 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 124 communities containing 41,909 apartment units. For more information, visit Home Properties' website at homeproperties.com.

SOURCE Home Properties