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PS BUSINESS PARKS, INC.

(PSB)
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PS BUSINESS PARKS, INC./MD : Other Events, Financial Statements and Exhibits (form 8-K)

12/01/2021 | 05:29pm EST

Item 8.01 Other Events

On December 1, 2021, the Company issued a press release announcing that its Board of Directors declared a one-time dividend of $4.60 per share of common stock, payable on December 30, 2021, to stockholders of record on December 15, 2021. This one-time dividend distribution will be paid in addition to the previously announced quarterly dividend of $1.05 per share of common stock, also payable on December 30, 2021, to shareholders of record on December 15, 2021.

The Company and its Board of Directors determined this one-time dividend distribution is necessary to meet distribution requirements to maintain its elected status as a real estate investment trust ("REIT") as defined by the Internal Revenue Code of 1986, as amended, based on its preliminary estimate of its REIT taxable income for tax year 2021. The Company has included in its estimate of its 2021 REIT taxable income long-term capital gain attributable to assets which it sold or is expected to sell in tax year 2021 after giving effect to assets acquired which qualify as Section 1031 exchanges.

Forward-Looking Statements

This Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this Form 8-K, other than statements of historical fact, are forward-looking statements which may be identified by the use of the words "expects," "believes," "anticipates," "should," "estimates" and similar expressions. These forward-looking statements involve known and unknown risks and uncertainties, which may cause actual events to be materially different from those expressed or implied in the forward-looking statements. Factors and risks that may impact future results and performance include, but are not limited to, those described in Part 1, Item 1A, "Risk Factors" in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 23, 2021 and in the Company's other filings with the SEC.

Item 9.01 Financial Statements and Exhibits



(d) Exhibits



Exhibit
  No.

99.1          Press Release dated December 1, 2021

104         Cover Page Interactive Data File (embedded within the Inline XBRL document)

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