Boston Properties Announces 2014 Tax Treatment of Its Distributions

January 16, 2015
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BOSTON--(BUSINESS WIRE)--Jan. 16, 2015-- Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced today the 2014 tax treatment of its common stock and 5.25% Series B Cumulative Redeemable Preferred Stock distributions as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Boston Properties distributions.

Common Shares (CUSIP #101121101)

                           
Record
Date 		     

Payment
Date

     

Total
Distribution
per Share

     

Total
Distribution
Allocable
to 2014

     

2014
Taxable
Ordinary
Dividends

     

2014
Qualified
Dividends
(1)

     

2014 Total
Capital
Gain
Distribution

     

2014
Unrecaptured
Section 1250
Gain (2)

12/31/2013       1/29/2014       $2.900000(3)       $0.461640 $0.000000 $0.000000 $0.461640 $0.054503
3/31/2014 4/30/2014 $0.650000 $0.650000 $0.000000 $0.000000 $0.650000 $0.076742
6/30/2014 7/31/2014 $0.650000 $0.650000 $0.000000 $0.000000 $0.650000 $0.076742
9/30/2014 10/31/2014 $0.650000 $0.650000 $0.000000 $0.000000 $0.650000 $0.076742
12/31/2014 1/28/2015 $5.150000(4)       $4.413187       $0.000000       $0.000000       $4.413187       $0.521042
 
$10.000000 $6.824827 $0.000000 $0.000000 $6.824827 $0.805771
100% 0.0000% 100.0000%

(1) Qualified Dividends is a subset of, and included in, the 2014 Taxable Ordinary Dividends amount.
(2) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2014 Total Capital Gain Distribution amount.
(3) Amount consists of a $2.25 per share special distribution and a $0.65 per share regular quarterly distribution.
(4) Amount consists of a $4.50 per share special distribution and a $0.65 per share regular quarterly distribution.

The common stock distribution with a record date of December 31, 2013 is a split-year distribution with $0.461640 allocable to 2014 for federal income tax purposes. The common stock distribution with a record date of December 31, 2014 will be a split-year distribution with $4.413187 allocable to 2014 for federal income tax purposes and $0.736813 allocable to 2015 for federal income tax purposes.

Series B Preferred (CUSIP #101121408)

                           
 

Record
Date

     

Payment
Date

     

Total
Distribution
per
Depositary
Share (1)

     

Total
Distribution
Allocable
to 2014

     

2014
Taxable
Ordinary
Dividends

     

2014
Qualified
Dividends
(2)

     

2014 Total
Capital
Gain
Distribution

     

2014
Unrecaptured
Section 1250
Gain (3)

2/7/2014       2/18/2014       $0.328125       $0.328125 $0.000000 $0.000000 $0.328125 $0.038740
5/5/2014 5/15/2014 $0.328125 $0.328125 $0.000000 $0.000000 $0.328125 $0.038740
8/5/2014 8/15/2014 $0.328125 $0.328125 $0.000000 $0.000000 $0.328125 $0.038740
11/5/2014 11/17/2014 $0.328125       $0.328125       $0.000000       $0.000000       $0.328125       $0.038740
 
$1.312500 $1.312500 $0.000000 $0.000000 $1.312500 $0.154960
100% 0.0000% 100.0000%
 

(1) Each depositary share represents 1/100th of a share of 5.25% Series B Cumulative Redeemable Preferred Stock.
(2) Qualified Dividends is a subset of, and included in, the 2014 Taxable Ordinary Dividends amount.
(3) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2014 Total Capital Gain Distribution amount.

Boston Properties is a fully integrated, self-administered and self-managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class A office space, one hotel, three residential properties and five retail properties. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in four markets – Boston, New York, San Francisco and Washington, DC.

For more information about Boston Properties, please visit the Company’s web site at www.bostonproperties.com.

Source: Boston Properties, Inc.

Boston Properties, Inc.
Michael Walsh, 617-236-3300
Senior Vice President, Finance
or
Lori Silverstein, 617-236-3300
Vice President, Controller