VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced the tax treatment of its 2023 distributions on its common stock (CUSIP #925652109). Stockholders are encouraged to consult with their tax advisors as to their specific tax treatment of VICI Properties’ distributions. The following table summarizes the Company’s distributions on its common stock for the tax year ended December 31, 2023:
Taxable Composition of 2023 Distributions (Form 1099-DIV)
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| 2023 Distributions Paid | Tax Treatment of 2023 Distributions | ||||||||||||||||||
| Record Date | Payment Date | Total Distribution Per Share |
Distribution Reportable in 2023 |
Distribution Reportable in 2024 |
Ordinary Dividend
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Qualified Dividend (1)
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Non-Dividend Distribution(2)
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Section 199A Dividends (1)(3) Box 5 |
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| 12/22/2022 | 1/5/2023 | $0.3900 |
$0.2813 |
(4) |
N/A |
$0.2763 |
$0.0045 |
$0.0050 |
$0.2718 |
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| 3/23/2023 | 4/6/2023 | $0.3900 |
$0.3900 |
N/A |
$0.3831 |
$0.0062 |
$0.0069 |
$0.3769 |
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| 6/22/2023 | 7/6/2023 | $0.3900 |
$0.3900 |
N/A |
$0.3831 |
$0.0062 |
$0.0069 |
$0.3769 |
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| 9/21/2023 | 10/5/2023 | $0.4150 |
$0.4150 |
N/A |
$0.4076 |
$0.0066 |
$0.0074 |
$0.4010 |
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| 12/21/2023 | 1/4/2024 | $0.4150 |
$0.0000 |
(5) |
$0.4150 |
(5) |
$0.0000 |
$0.0000 |
$0.0000 |
$0.0000 |
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$2.0000 |
$1.4763 |
$0.4150 |
$1.4500 |
$0.0235 |
$0.0263 |
$1.4265 |
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| (1) These amounts are a subset of, and included in, the 2023 ordinary dividend amounts (Box 1a). | |||||||||||||||||||
(2) Represents a return of capital. |
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| (3) Treasury Regulation § 1.199A-3(c)(2)(ii) requires that stockholders hold their REIT shares for more than 45 days during the 91-day period beginning on the date that is 45 days before the date on which such shares become ex-dividend with respect to such dividend in order for the dividends to be treated as Section 199A Dividends. Stockholders should consult with their tax advisors to determine whether this requirement affects any portion of the dividends included in Box 5. | |||||||||||||||||||
| (4) $0.2813 of the January 5, 2023 distribution (which was declared and had a record date in the fourth quarter of 2022) is treated as a 2023 distribution for federal income tax purposes. The remaining $0.1087 was treated as a 2022 distribution for federal income tax purposes pursuant to IRC Section 857(b)(9). | |||||||||||||||||||
| (5) Pursuant to IRC Section 857(b)(9), cash distributions paid on January 4, 2024 with a record date of December 21, 2023 are treated as received by stockholders on December 21, 2023 to the extent of 2023 earnings and profits. As the Company’s aggregate 2023 cash distributions exceeded its 2023 earnings and profits, the entire January 2024 cash distribution declared in the fourth quarter of 2023 will be treated as a 2024 distribution for federal income tax purposes and is not included on the 2023 Form 1099. If you were a stockholder of record as of December 21, 2023, $0.0000 with respect to this January 4, 2024 distribution will be reported on your 2023 Form 1099 and $0.4150 will be reported on your 2024 Form 1099. | |||||||||||||||||||
About VICI Properties
VICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 non-gaming experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and more than 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading non-gaming experiential operators, including Bowlero, Cabot, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, and Kalahari Resorts and Conventions. VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators.
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Contacts
Investor Contact
Investors@viciproperties.com
(646) 949-4631
Or
David Kieske
EVP, Chief Financial Officer
DKieske@viciproperties.com
Moira McCloskey
SVP, Capital Markets
DValoy@viciproperties.com
