FCPT Announces Tax Treatment of 2022 Distributions

MILL VALLEY, Calif.–(BUSINESS WIRE)–Four Corners Property Trust, Inc. (NYSE: FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today the tax characterization of its 2022 common stock distributions as shown below.

Record Date

Payment Date

Total Distribution

($ per share)

Form 1099

Box 1a

Ordinary Taxable Dividend

($ per share)

Form 1099

Box 1b

Qualified Taxable Dividend (1)
($ per share)

Form 1099

Box 3

Return of Capital

($ per share)

Form 1099 Box 5

Section 199A

Dividends

($ per share)

1/3/2022

1/14/2022

$0.3325

$0.3002

$0.0323

$0.3002

3/31/2022

4/14/2022

$0.3325

$0.3002

$0.0323

$0.3002

6/30/2022

7/15/2022

$0.3325

$0.3002

$0.0323

$0.3002

9/30/2022

10/14/2022

$0.3325

$0.3002

$0.0323

$0.3002

Totals

 

$1.3300

$1.2008

$0.1292

$1.2008

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

The common stock dividend of $0.34 per share that was paid on January 13, 2023 to shareholders of record on December 30, 2022 will be applicable to the 2023 tax year.

If you held common stock of FCPT in your name at any time during 2022, an IRS Form 1099-DIV will be provided to you by Broadridge Corporate Issuer Solutions, FCPT’s transfer agent during 2022. If you held shares in “street name” during 2022, the IRS form provided by your bank, brokerage firm or nominee may report only the gross distributions paid to you. Therefore, you may need the information included in this press release to properly complete your federal tax return.

There are many important considerations associated with the taxability of the company’s distributions in 2022. This information has been prepared using the best available information to date. FCPT’s federal income tax return for the year ended December 31, 2022 has not yet been filed. Please note that federal tax laws affect taxpayers differently, and we cannot advise you on how distributions should be reported on your federal income tax return. Also note that state and local taxation of REIT distributions vary and may not be the same as the taxation under the federal rules. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment related to FCPT common stock dividends.

About FCPT:

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

Contacts

Four Corners Property Trust:

Gerry Morgan, 415-965-8032

CFO

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