Press Release

CBL & Associates Properties Announces Tax Reporting Information for 2014 Common and Preferred Share Distributions

Company Release - 1/27/2015 10:28 AM ET

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL & Associates Properties, Inc. (NYSE: CBL) today announced the tax reporting (Federal 1099) information for the 2014 distributions on its Common, Series D Preferred and Series E Preferred shares.

The income tax treatment for the 2014 distributions for CBL & Associates Properties, Inc., Common Stock CUSIP # 124830-10-0 traded on the NYSE under ticker symbol "CBL" is as follows:

               
Distribution Type (Form 1099-DIV Box)
           
Return of Total
Ordinary Capital / Long-Term Unrecap.
Taxable Non-Dividend Capital Sec. 1250
Declaration Record Payable Distributions Dividend Distributions Gain

Gain(1)

Dates Dates Dates Per Share (Box 1a) (Box 3) (Box 2a) (Box 2b)
 
02/26/14 03/31/14 04/16/14 $ 0.2450000 $ 0.2450000 $ - $ - $ -
05/30/14 06/30/14 07/15/14 $ 0.2450000 $ 0.2450000 $ - $ - $ -
08/28/14 09/30/14 10/15/14 $ 0.2450000 $ 0.2450000 $ - $ - $ -
11/13/14 12/30/14 01/15/15 $ 0.2650000 $ 0.2650000 $ - $ - $ -
         
Totals $ 1.0000000   $ 1.0000000   $ -   $ -   $ -  
 
Percentage 100.000 % 100.000 % 0.000 % 0.000 % 0.000 %
 
(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a).
 

No Alternative Minimum Taxable Income (“AMTI”) adjustment is included in the current year for the recipients of distributions on the Common shares.

The income tax treatment for the 2014 distributions for CBL & Associates Properties, Inc., depositary shares representing 1/10th of a share of the 7.375% Series D Preferred Stock, CUSIP # 124830-60-5 on the NYSE traded under ticker symbol "CBLPrD" is as follows:

               
Distribution Type (Form 1099-DIV Box)
       
Total
Ordinary Long-Term Unrecap.
Taxable Capital Sec. 1250
Declaration Record Payable Distributions Dividend Gain

Gain(1)

Dates Dates Dates Per Share (Box 1a) (Box 2a) (Box 2b)
 
02/26/14 03/12/14 03/31/14 $ 0.4609375 $ 0.4609375 $ - $ -
05/30/14 06/13/14 06/30/14 $ 0.4609375 $ 0.4609375 $ - $ -
08/28/14 09/15/14 09/30/14 $ 0.4609375 $ 0.4609375 $ - $ -
11/13/14 12/12/14 12/30/14 $ 0.4609375 $ 0.4609375 $ - $ -
       
Totals $ 1.8437500   $ 1.8437500   $ -   $ -  
 
Percentage 100.000 % 100.000 % 0.000 % 0.000 %
 
(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a).
 

No AMTI adjustment is included in the current year for the recipients of distributions on the Series D Preferred shares.

The income tax treatment for the 2014 distributions for CBL & Associates Properties, Inc., depositary shares representing 1/10th of a share of the 6.625% Series E Preferred Stock, CUSIP # 124830-80-3 on the NYSE traded under ticker symbol "CBLPrE" is as follows:

               
Distribution Type (Form 1099-DIV Box)
       
Total
Ordinary Long-Term Unrecap.
Taxable Capital Sec. 1250
Declaration Record Payable Distributions Dividend Gain

Gain(1)

Dates Dates Dates Per Share (Box 1a) (Box 2a) (Box 2b)
 
02/26/14 03/12/14 03/31/14 $ 0.4140625 $ 0.4140625 $ - $ -
05/30/14 06/13/14 06/30/14 $ 0.4140625 $ 0.4140625 $ - $ -
08/28/14 09/15/14 09/30/14 $ 0.4140625 $ 0.4140625 $ - $ -
11/13/14 12/12/14 12/30/14 $ 0.4140625 $ 0.4140625 $ - $ -
       
Totals $ 1.6562500   $ 1.6562500   $ -   $ -  
 
Percentage 100.000 % 100.000 % 0.000 % 0.000 %
 
(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain (Box 2a).
 

No AMTI adjustment is included in the current year for the recipients of distributions on the Series E Preferred shares.

None of the dividends above represent “qualified dividend income” and, therefore, are not eligible for reduced rates.

This information represents FINAL income allocations.

About CBL & Associates Properties, Inc.

CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 148 properties, including 89 regional malls/open-air centers. The properties are located in 30 states and total 84.2 million square feet including 6.5 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information can be found at cblproperties.com.

Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" incorporated by reference therein, for a discussion of such risks and uncertainties.

CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Senior Vice President - Investor Relations and Corporate Investments
katie_reinsmidt@cblproperties.com

Source: CBL & Associates Properties, Inc.