Press Release

CBL & Associates Properties Announces Tax Reporting Information for 2016 Common and Preferred Share Distributions

Company Release - 1/26/2017 2:26 PM ET

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL & Associates Properties, Inc. (NYSE: CBL) today announced the tax reporting (Federal 1099) information for the 2016 distributions on its Common, Series D Preferred and Series E Preferred shares.

The income tax treatment for the 2016 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)
   
Declaration

Dates

  Record

Dates

  Payable

Dates

  Distributions

Per Share

  Ordinary

Taxable

Dividend

(Box 1a)

  Return of

Capital /

Non-Dividend

Distributions

(Box 3)

  Total

Long-Term

Capital

Gain

(Box 2a)

  Unrecap.

Sec. 1250

Gain (1)

(Box 2b)

 
02/26/16 03/30/16 04/15/16 $ 0.2650000 $ 0.2650000 $ - $ - $ -
06/02/16 06/30/16 07/15/16 $ 0.2650000 $ 0.2650000 $ - $ - $ -
08/24/16 09/30/16 10/14/16 $ 0.2650000 $ 0.2650000 $ - $ - $ -
11/03/16 12/30/16 01/16/17 $

0.0809996

$

0.0809996

$ - $ - $ -
         
Totals $

0.8759996

  $

0.8759996

  $ -   $ -   $ -  
 
Percentage

100.0

%

100.0

% 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).
 

Pursuant to Internal Revenue Code requirements, of the $0.265 per share dividend declared on November 3, 2016 and paid January 16, 2017, $0.1840004 per share will be reported and is taxable in 2017.

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 2016 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)
   
Declaration

Dates

  Record

Dates

  Payable

Dates

  Distributions

Per Share

  Ordinary

Taxable

Dividend

(Box 1a)

  Total

Long-Term

Capital

Gain

(Box 2a)

  Unrecap.

Sec. 1250

Gain (1)

(Box 2b)

 
02/26/16 03/15/16 03/30/16 $ 0.4609375 $ 0.4609375 $ - $ -
06/02/16 06/15/16 06/30/16 $ 0.4609375 $ 0.4609375 $ - $ -
08/24/16 09/15/16 09/30/16 $ 0.4609375 $ 0.4609375 $ - $ -
11/03/16 12/15/16 12/30/16 $ 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 2016 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)
   
Declaration

Dates

Record

Dates

Payable

Dates

Distributions

Per Share

Ordinary

Taxable

Dividend

(Box 1a)

Total

Long-Term

Capital

Gain

(Box 2a)

Unrecap.

Sec. 1250

Gain (1)

(Box 2b)

 
 
02/26/16 03/15/16 03/30/16 $ 0.4140625 $ 0.4140625 $ - $ -
06/02/16 06/15/16 06/30/16 $ 0.4140625 $ 0.4140625 $ - $ -
08/24/16 09/15/16 09/30/16 $ 0.4140625 $ 0.4140625 $ - $ -
11/03/16 12/15/16 12/30/16 $ 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.

Headquartered in Chattanooga, TN, 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 128 properties, including 84 regional malls/open-air centers. The properties are located in 29 states and total 79.1 million square feet including 7.0 million square feet of non-owned shopping centers managed for third parties. 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.