Kimco Realty Corporation Announces 2024 Dividend Tax Treatment

JERICHO, N.Y., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Kimco Realty^® (NYSE: KIM), a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, announced today the 2024 tax treatment of its common stock and preferred stock dividend distributions. The allocations as they will be reported on Form 1099-DIV are as follows:

Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains

During 2024, Kimco recognized long-term capital gains of approximately $325 million, which included the gain on the sale of its remaining shares of the Albertsons Companies, Inc. (NYSE: ACI). The company elected to retain the capital gain proceeds for general corporate purposes and will pay federal and state corporate income tax on the taxable gains in excess of available deductions. This taxable portion, representing undistributed long-term capital gains, is treated as a distribution to shareholders of record on December 31, 2024, and each shareholder's proportionate share of the undistributed capital gains will be reported on Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains.

Correspondingly, each shareholder is entitled to a federal tax credit for its share of the federal income tax paid by the company. Form 2439 is in addition to the information reported on Form 1099-DIV. Additional details can be found in a set of FAQs available on the company's website at: https://investors.kimcorealty.com/2024_Undistributed_Cap_Gain_FAQ.

About Kimco Realty^®

Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The Company's portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high- barrier-to-entry coastal markets and rapidly expanding Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the Company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 60 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of December 31, 2024, the Company owned interests in 568 U.S. shopping centers and mixed-use assets comprising 101 million square feet of gross leasable space.

The company announces material information to its investors using the company's investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. The company also uses social media to communicate with its investors and the public, and the information the company posts on social media