Hudson Pacific Properties Announces 2023 Dividend Tax Treatment

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced the tax treatment for its 2023 common stock 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:

			Dividends		Capital Gains		Section 897
Record Date	Payment Date	Distribution Per Share	Ordinary^1 (Box 1a)	Qualified (Box 1b)	Total^3 (Box 2a)	Unrecaptured Section 1250 (Box 2b)^4	Ordinary Dividends^5 (Box 2e)	Capital Gains^5 (Box 2f)	Return of Capital (Box 3)
3/20/2023	3/30/2023	$0.2500	$0.00	$0.00	$0.2500	$0.115922	$0.00	$0.2500	$0.00
6/20/2023	6/30/2023	$0.1250	$0.00	$0.00	$0.1250	$0.057961	$0.00	$0.1250	$0.00
	Totals	$0.3750	$0.00	$0.00	$0.3750	$0.173883	$0.00	$0.3750	$0.00
		100.00%	0.00%	0.00%	100.00%	46.37%	0.00%	100.00%	0.00%

The company's dividends related to its Series C preferred stock (CUSIP #444097307) will be classified for United States federal income tax purposes as follows:

			Dividends		Capital Gains		Section 897
Record Date	Payment Date	Distribution Per Share	Ordinary^1 (Box 1a)	Qualified (Box 1b)	Total^3 (Box 2a)	Unrecaptured Section 1250 (Box 2b)^4	Ordinary Dividends^5 (Box 2e)	Capital Gains^5 (Box 2f)	Return of Capital (Box 3)
3/20/2023	3/30/2023	$0.296875	$0.00	$0.00	$0.296875	$0.137658	$0.00	$0.296875	$0.00
6/20/2023	6/30/2023	$0.296875	$0.00	$0.00	$0.296875	$0.137658	$0.00	$0.296875	$0.00
9/19/2023	9/29/2023	$0.296875	$0.00	$0.00	$0.296875	$0.137658	$0.00	$0.296875	$0.00
12/18/2023	12/28/2023	$0.296875	$0.00	$0.00	$0.296875	$0.137658	$0.00	$0.296875	$0.00
	Totals	$1.187500	$0.00	$0.00	$1.187500	$0.550632	$0.00	$1.187500	$0.00
		100.00%	0.00%	0.00%	100.00%	46.37%	0.00%	100.00%	0.00%

¹On December 22, 2017, the Tax Cuts and Jobs Act enacted Section 199A that generally allows a deduction for non-corporate taxpayers equal to 20% of ordinary dividends distributed by a REIT (excluding capital gain dividends and qualified dividend income). Ordinary Dividends eligible for the Section 199A benefit are a subset of, and included in, the Taxable Ordinary Dividend Amount.

² For purposes of Section 1061 and Treasury Regulation §1.1061-6(c), the aggregate "One Year Amounts Disclosure" and "Three Year Amounts Disclosure" are $0.066638 (17.77% of Box 2a) per share and $0.066638 (17.77% of Box 2a) per share, respectively. Such additional information generally pertains to shares held through "applicable partnership interests" subject to Section 1061.

³ For purposes of Section 1061 and Treasury Regulation §1.1061-6(c), the aggregate "One Year Amounts Disclosure" and "Three Year Amounts Disclosure" are $0.211019 (17.77% of Box 2a) per share and $0.211019 (17.77% of Box 2a) per share, respectively. Such additional information generally pertains to shares held through "applicable partnership interests" subject to Section 1061.

⁴Unrecaptured Section 1250 gains are a subset of, and included in, the total capital gain amount.

⁵These amounts reflect a distribution's composition of gains from the disposition of "United States real property interests" under Section 897. Generally, such information is relevant only to non-U.S. shareholders that own more than 10% of the company's stock, as determined for purposes of Section 897, and certain entities through which non-U.S. shareholders own the company's stock.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. For more information visit HudsonPacificProperties.com.

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