CHARLOTTE, N.C., Jan. 26 /PRNewswire-FirstCall/ -- Cogdell Spencer Inc.
(NYSE: CSA) announced today the tax characteristics of its 2008 dividend. We
are releasing this information to assist those required to distribute Form
1099s on the Company's dividend. This release is based on an estimate of
"earnings and profits" as defined by the Internal Revenue Service. No
material change in these classifications is expected.
During 2008, the Company paid four quarterly dividends of $0.35 per share,
totaling $1.40 per share for the year. The dividends of $1.40 per share are
classified for income tax purposes as 27.9% taxable ordinary dividend, 15.7%
"qualified dividends" eligible for the reduced rates on dividends pursuant to
the Jobs and Growth Tax Relief Reconciliation Act of 2003, and 56.4% return of
capital. Shareholders generally benefit from the return of capital by
deferring income taxes on that portion of the distribution until a share is
sold or otherwise transferred. The Company urges its stockholders to consult
with their own tax advisors with respect to the federal, state and local
income tax consequences of these dividends.
About Cogdell Spencer Inc.
Charlotte-based Cogdell Spencer Inc. (NYSE: CSA) is a fully-integrated,
self-administered, and self-managed real estate investment trust ("REIT") that
invests in specialty office buildings for the medical profession, including
medical offices and ambulatory surgery and diagnostic centers. The Company
focuses on the ownership, development, redevelopment, acquisition, and
management of strategically located medical office buildings and other
healthcare related facilities in the United States of America. Erdman, A
Cogdell Spencer Company, provides service offerings including advanced
planning, architecture, engineering and construction, and development. The
Company has been built around understanding and addressing the full range of
specialized real estate needs of the healthcare industry. Learn more about
Cogdell Spencer Inc. and its subsidiaries at www.cogdellspencer.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. The forward-looking
statements reflect the Company's views about future events and are subject to
risks, uncertainties, assumptions and changes in circumstances that may cause
actual results to differ materially. Factors that may contribute to these
differences include, but are not limited to the following: market trends; our
ability to obtain future financing arrangements; our ability to renew ground
leases; our ability to integrate the operations of Marshall Erdman &
Associates with our operations; defaults by tenants; and changes in the
reimbursement available to our tenants by government or private payors. For a
further list and description of such risks and uncertainties, see the reports
filed by the Company with the Securities and Exchange Commission, including
the Company's Form 10-K for the year ended December 31, 2007. Although the
Company believes the expectations reflected in such forward-looking statements
are based on reasonable assumptions, it can give no assurance that its
expectations will be realized. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
SOURCE Cogdell Spencer Inc.