LOS ANGELES--(BUSINESS WIRE)--
Hudson Pacific Properties, Inc. (the “Company”) (NYSE:HPP) today
announced the tax treatment for its 2010 common and preferred stock
dividends:
The Company's dividends related to its common stock (CUSIP #444097109)
will be classified for United States federal income tax purposes as
follows:
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Ordinary Dividends
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Record Date
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Payment Date
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Distribution
Per Share
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Total
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Non-Qualified
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Qualified
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Return of
Capital
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9/30/10
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10/15/10
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$0.09710
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$0.05465
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$0.04768
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$0.00697
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$0.04245
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12/20/10
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12/31/10
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$0.09500
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$0.05347
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$0.04665
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$0.00682
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$0.04153
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Totals
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$0.19210
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$0.10812
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$0.09433
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$0.01379
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$0.08398
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100%
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56.28%
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43.72%
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The Company's dividends related to its 8.375% Series B Cumulative
Preferred Stock (CUSIP #444097208) will be classified for United States
federal income tax purposes as follows:
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Ordinary Dividends
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Record Date
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Payment Date
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Distribution
Per Share
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Total
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Non-Qualified
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Qualified
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12/20/10
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12/31/10
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$0.12214
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$0.12214
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$0.10657
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$0.01557
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Totals
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$0.12214
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$0.12214
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$0.10657
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$0.01557
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About Hudson Pacific Properties
Hudson Pacific Properties, Inc. is a full-service, vertically integrated
real estate company focused on owning, operating and acquiring
high-quality office properties and state-of-the-art media and
entertainment properties in select growth markets primarily in Northern
and Southern California. The Company’s strategic investment program
targets high barrier-to-entry, in-fill locations with favorable,
long-term supply-demand characteristics in select target markets
including Los Angeles, Orange County, San Diego, San Francisco, Silicon
Valley and the East Bay. Its wholly owned portfolio includes 12
properties totaling approximately 3.4 million square feet, strategically
located in many of the Company’s target markets. Upon completion of the
Rincon Center acquisition the company’s portfolio will consist of 13
properties totaling 4 million square feet. The Company intends to elect
to be taxed and to operate in a manner that will allow it to qualify as
a real estate investment trust, or REIT, for federal income tax
purposes, commencing with the taxable year ending December 31, 2010.
Hudson Pacific Properties is a component of the Russell 2000® and the
Russell 3000® indices. For additional information, visit www.hudsonpacificproperties.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements
relate to expectations, beliefs, projections, future plans and
strategies, anticipated events or trends and similar expressions
concerning matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as “may,” “will,” “should,” “expects,” “intends,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,” or
“potential” or the negative of these words and phrases or similar words
or phrases which are predictions of or indicate future events or trends
and which do not relate solely to historical matters. Forward-looking
statements involve known and unknown risks, uncertainties, assumptions
and contingencies, many of which are beyond the Company’s control, that
may cause actual results to differ significantly from those expressed in
any forward-looking statement. All forward-looking statements reflect
the Company’s good faith beliefs, assumptions and expectations, but they
are not guarantees of future performance. Furthermore, the Company
disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying assumptions
or factors, of new information, data or methods, future events or other
changes. For a further discussion of these and other factors that could
cause the Company’s future results to differ materially from any
forward-looking statements, see the section entitled “Risk Factors” in
the Company’s final prospectus dated June 23, 2010, and other risks
described in documents subsequently filed by the Company from time to
time with the Securities and Exchange Commission.
Source: Hudson Pacific Properties, Inc.
Contact:
Investor Contact:
Hudson Pacific Properties, Inc.
Mark
Lammas
Chief Financial Officer
(310) 445-5700
or
Investor
/ Media Contact:
Addo Communications, Inc.
Andrew
Blazier
(310) 829-5400
andrewb@addocommunications.com