Uniti Group Inc. detailed the federal tax treatment of its 2024 distributions on common shares in a press release.
Quiver AI Summary
Uniti Group Inc. announced the tax treatment for its 2024 distributions, detailing the expected federal income tax implications for its common share distributions as reported on Form 1099-DIV. The press release provides a comprehensive breakdown of the distributions over three payment dates, totaling $0.4500 per share. Each payment includes ordinary dividends, capital gains distributions, and nondividend distributions, with specific amounts allocated to each category. The ordinary dividends are classified as non-qualified income and are reported as Section 199A dividends, with additional amounts noted for Section 897 dividends and capital gains. Uniti, a real estate investment trust focused on communications infrastructure, owns extensive fiber and wireless communications assets across the United States.
Potential Positives
- Uniti Group Inc. is providing clear and detailed tax treatment information for its 2024 distributions, enhancing transparency for shareholders.
- The company is maintaining a consistent distribution amount of $0.1500 per share across multiple payment dates, indicating financial stability and reliability for investors.
- The classification of a portion of the distributions as capital gains and Section 199A dividends may provide favorable tax treatment for shareholders, potentially attracting more investment.
- Uniti's continued investment in communications infrastructure, with ownership of significant fiber assets, positions the company as a key player in the growing telecommunications market.
Potential Negatives
- The announcement of tax treatment for distributions may indicate financial complexity or unexpected tax implications for shareholders, potentially leading to decreased investment interest.
- Reporting of a significant portion of distributions as non-qualified dividends may discourage income-focused investors due to unfavorable tax consequences compared to qualified dividends.
- The relatively low total distribution per share could raise concerns about the company's financial health and ability to provide higher returns to investors in the future.
FAQ
What is the tax treatment of Uniti's 2024 distributions?
The 2024 distributions include ordinary dividends, capital gain distributions, and nondividend distributions, reported on Form 1099-DIV.
When are Uniti's distribution payment dates?
Payments are scheduled for January 4, April 12, and June 28 in 2024.
How much is the total distribution per share for 2024?
The total distribution per share for 2024 is $0.4500, with $0.1500 distributed each payment date.
What qualifies as Section 199A Dividends for Uniti?
Ordinary Dividend Per Share may qualify as Section 199A Dividends and will be reported in Box 5 on Form 1099-DIV.
Where can I find more information about Uniti Group Inc.?
Additional information about Uniti can be found on their website at www.uniti.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$UNIT Insider Trading Activity
$UNIT insiders have traded $UNIT stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $UNIT stock by insiders over the last 6 months:
- RONALD J. MUDRY (SVP-CHIEF REVENUE OFFICER) sold 28,693 shares for an estimated $113,050
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$UNIT Hedge Fund Activity
We have seen 141 institutional investors add shares of $UNIT stock to their portfolio, and 155 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- INVESCO LTD. removed 5,385,788 shares (-88.9%) from their portfolio in Q3 2024, for an estimated $30,375,844
- APOLLO MANAGEMENT HOLDINGS, L.P. added 5,007,940 shares (+inf%) to their portfolio in Q3 2024, for an estimated $28,244,781
- DAVIDSON KEMPNER CAPITAL MANAGEMENT LP removed 4,556,789 shares (-83.2%) from their portfolio in Q3 2024, for an estimated $25,700,289
- CITADEL ADVISORS LLC added 2,814,733 shares (+2004.6%) to their portfolio in Q3 2024, for an estimated $15,875,094
- GOLDMAN SACHS GROUP INC added 2,548,368 shares (+173.9%) to their portfolio in Q3 2024, for an estimated $14,372,795
- KING STREET CAPITAL MANAGEMENT, L.P. added 1,560,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $8,798,400
- LAZARD ASSET MANAGEMENT LLC removed 1,499,798 shares (-68.2%) from their portfolio in Q3 2024, for an estimated $8,458,860
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LITTLE ROCK, Ark., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today the tax treatment of its 2024 distributions. The following table summarizes the federal income tax treatment of the distributions on its common shares as it is expected to be reported on Form 1099 – DIV.
Common Stock CUSIP (91325V108)
Record Date | Payment Date | Total Distribution Per Share | Ordinary Dividend Per Share | Capital Gain Distribution Per Share | Nondividend Distribution Per Share | |||||||||
12/15/23 | 1/04/24 | $ | 0.1500 | $ | 0.1294 | $ | 0.0126 | $ | 0.0080 | |||||
3/28/24 | 4/12/24 | $ | 0.1500 | $ | 0.1294 | $ | 0.0126 | $ | 0.0080 | |||||
6/14/24 | 6/28/24 | $ | 0.1500 | $ | 0.1294 | $ | 0.0126 | $ | 0.0080 | |||||
Total | $ | 0.4500 | $ | 0.3882 | $ | 0.0378 | $ | 0.0240 | ||||||
Ordinary Dividend Per Share is non-qualified dividend income. The Ordinary Dividend Per Share will also be reported on Form 1099-DIV, Box 5, as Section 199A Dividends. $0.0273 of each distribution will be treated as Section 897 Ordinary Dividends. This amount will be reported on Form 1099-DIV, Box 2e and is also included in Ordinary Dividend Per Share. $0.0126 of each distribution will be treated as Section 897 Capital Gains. This amount will be reported on Form 1099-DIV, Box 2f and is also included in Capital Gain Distribution Per Share.
ABOUT UNITI
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of September 30, 2024, Uniti owns approximately 144,000 fiber route miles, 8.7 million fiber strand miles, and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com .
INVESTOR AND MEDIA CONTACTS:
Paul Bullington, 251-662-1512
Senior Vice President, Chief Financial Officer & Treasurer
[email protected]
Bill DiTullio, 501-850-0872
Senior Vice President, Investor Relations & Treasury
[email protected]