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Feb 13, 2018

CIM Commercial Trust Corporation Announces Tax Treatment of 2017 Dividends

DALLAS--(BUSINESS WIRE)--Feb. 13, 2018-- CIM Commercial Trust Corporation (NASDAQ:CMCT), a real estate investment trust (REIT) that principally invests in, owns, and operates Class A and creative office investments in vibrant and improving urban communities throughout the U.S., announced today the tax treatment of its 2017 Common Stock and Series A Preferred Stock dividends.

The characterization of dividends declared by CIM Commercial Trust Corporation during 2017 are delineated as follows:

 
COMMON STOCK DIVIDENDS
Type  

Record
Dates

  Paid Dates  

Dividend
Per Share

 

Qualified
Dividend

 

Non-
Qualified
Dividend

 

Capital
Gain
Dividend

 

Unrecaptured
Section 1250
Gain (1)

 

Non-
Taxable
Return of
Capital

Regular   3/20/2017   3/27/2017   $0.21875   $0.00000   $0.00000   $0.07771   $0.02210   $0.14104
Special 4/17/2017 4/24/2017 $0.28000 $0.00000 $0.00000 $0.09947 $0.02828 $0.18053
Regular 6/20/2017 6/27/2017 $0.12500 $0.00000 $0.00000 $0.04441 $0.01263 $0.08059
Special 6/20/2017 6/27/2017 $1.98000 $0.00000 $0.00000 $0.70339 $0.20001 $1.27661
Regular 9/18/2017 9/25/2017 $0.12500 $0.00000 $0.00000 $0.04441 $0.01263 $0.08059
Regular 12/21/2017 12/28/2017 $0.12500 $0.00000 $0.00000 $0.04441 $0.01263 $0.08059
Special 12/29/2017 1/11/2018 $0.73000   $0.00000   $0.00000   $0.25933   $0.07374   $0.47067
$3.58375   $0.00000   $0.00000   $1.27313   $ 0.36202   $ 2.31062
 

(1) Unrecaptured Section 1250 Gain is a subset of, and is included in, the Capital Gain Dividend amount.

       
SERIES A PREFERRED STOCK DIVIDENDS
Type  

Record
Dates

  Paid Dates  

Dividend
Per Share

 

Qualified
Dividend

 

Non-
Qualified
Dividend

 

Capital
Gain
Dividend

 

Unrecaptured
Section 1250
Gain (1)

 

Non-
Taxable
Return of
Capital

Regular   4/5/2017   4/17/2017   $0.34375   $0.00000 $0.00000 $0.34375 $0.09775 $0.00000
Regular 7/5/2017 7/17/2017 $0.34375 $0.00000 $0.00000 $0.34375 $0.09775 $0.00000
Regular 10/5/2017 10/16/2017 $0.34375 $0.00000 $0.00000 $0.34375 $0.09775 $0.00000
Regular 1/5/2018 1/16/2018 $0.34375   $0.00000   $0.00000   $0.34375   $0.09775   $0.00000
$1.37500   $0.00000   $0.00000   $ 1.37500   $ 0.39100   $ 0.00000
 

(1) Unrecaptured Section 1250 Gain is a subset of, and is included in, the Capital Gain Dividend amount.

The purpose of this press release is provided for informational purposes only and does not constitute tax advice. Shareholders should consult their own tax advisor as to the tax treatment of their dividends.

ABOUT CIM COMMERCIAL TRUST CORPORATION

CIM Commercial Trust Corporation is a real estate investment trust (REIT) that principally invests in, owns, and operates Class A and creative office investments located in vibrant and improving urban communities throughout the U.S. Properties are primarily located in Los Angeles, the San Francisco Bay Area and Washington, D.C. CIM Commercial Trust Corporation is operated by CIM Group, a vertically integrated, owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, development, finance, leasing, and asset management capabilities, and its affiliates. In addition, CIM Commercial Trust continues to deploy a portion of its capital to its real estate lending platform through its wholly owned subsidiary (d/b/a PMC Commercial Trust) that originates and services loans under the U.S. Small Business Administration 7(a) Guaranteed Loan Program as well as through other lending programs. www.cimcommercial.com

FORWARD-LOOKING STATEMENTS

The information set forth herein contains "forward-looking statements." You can identify these statements by the fact that they do not relate strictly to historical or current facts or discuss the business and affairs of CIM Commercial Trust Corporation on a prospective basis. Further, statements that include words such as "may," "will," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "continue" "pursue," or "should" or the negative or other words or expressions of similar meaning, may identify forward-looking statements.

CIM Commercial Trust bases these forward-looking statements on particular assumptions that it has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. The forward-looking statements are necessarily estimates reflecting the judgment of CIM Commercial Trust and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors, including those set forth in CIM Commercial Trust's Annual Report on Form 10-K for the fiscal year ended December 31, 2016.

As you read and consider the information herein, you are cautioned to not place undue reliance on these forward-looking statements. These statements are not guarantees of performance or results and speak only as of the date hereof. These forward-looking statements involve risks, uncertainties and assumptions. In light of these risks and uncertainties, there can be no assurance that the results and events contemplated by the forward-looking statements contained herein will in fact transpire. New factors emerge from time to time, and it is not possible for CIM Commercial Trust to predict all of them. Nor can CIM Commercial Trust assess the impact of each such factor or the extent to which any factor, or combination of factors may cause results to differ materially from those contained in any forward-looking statement. CIM Commercial Trust undertakes no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.

Source: CIM Commercial Trust Corporation

For CIM Commercial Trust Corporation
Media Relations:
Bill Mendel, 212-397-1030
bill@mendelcommunications.com
or
Investor Relations:
Steve Altebrando, 646-652-8473
investors@cimcommercial.com

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