Paramount Group, Inc. (NYSE:PGRE) (“Paramount” or the “Company”) today announced the 2016 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount’s dividends.

Common Shares (CUSIP #69924R108)

                           

2016 Non-

Total

taxable

Total

Dividends

2016 Taxable

Total Capital

Dividend

Record

Payable

Dividends per

Allocable to

Ordinary

2016 Qualified

Gain

(Return of

Date

   

Date

   

Share

   

2016

   

Dividends

   

Dividends (1)

   

Distribution

   

Capital)

12/31/15 01/15/16 $0.095000 $0.095000 $0.026742 $0.000206 $0.000000 $0.068258
03/31/16 04/15/16 $0.095000 $0.095000 $0.026742 $0.000206 $0.000000 $0.068258
06/30/16 07/15/16 $0.095000 $0.095000 $0.026742 $0.000206 $0.000000 $0.068258
09/30/16     10/14/16     $0.095000     $0.095000     $0.026742     $0.000206     $0.000000     $0.068258
Totals for 2016 $0.380000 $0.380000 $0.106968 $0.000824 $0.000000 $0.273032
 

(1) Qualified Dividends are a subset of, and included in, the 2016 Taxable Ordinary Dividends amount.

 

During 2016 the Company incurred approximately $28.4 million of costs, primarily for swap breakage and defeasance, in connection with refinancing and repaying various property level debt, which resulted in a reduction of its 2016 taxable income of approximately $0.11 per common share.

The common dividend declared on December 15, 2016, payable on January 13, 2017 to shareholders of record as of December 30, 2016 is allocable to 2017 for federal income tax purposes.

This release is based on the preliminary results of work on Paramount’s tax filings and may be subject to adjustment. Paramount is releasing information at this time to aid those required to distribute Form 1099 on Paramount’s distributions.

About Paramount Group, Inc.

Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.