HORSHAM, Pa.--(BUSINESS WIRE)--Capmark Financial Group Inc. (the “Company”) announced that its Board of Directors has declared a cash distribution of $8.50 per share to holders of the Company’s common stock, payable on December 20, 2012, to shareholders of record on the close of business on December 17, 2012. The aggregate amount of the distribution is approximately $852.5 million.
The Company estimates that, for federal income tax purposes, approximately 95% of this December distribution will be treated by shareholders as a return of capital, with the remaining 5% treated as a dividend. The tax treatment of the distribution cannot be concluded with certainty until after the 2012 year end has closed and will be reported to shareholders in the first quarter of 2013.
The book value per share of the Company’s common stock will be reduced by an amount equal to the distribution per share.
Shareholders are encouraged to consult with their financial and tax advisors regarding the specific effect this distribution may have on their tax position. The Company does not provide advice on tax matters to its shareholders or to broker/nominees who hold the Company’s shares on behalf of their customers. The information above in this release is not intended to, and cannot, be used by any taxpayer to avoid penalties that may be imposed under U.S. federal income tax law.
Forward-Looking Statements
Certain statements in this release may constitute forward-looking statements. These statements are based on management’s current expectations and beliefs but are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements are made only as of the date of this release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.
About Capmark®:
Capmark is a real estate finance company focused on the management of its commercial real estate-related assets and businesses with a view to maximizing their value. Capmark is headquartered in Horsham, Pennsylvania and operates principally in North America.