UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 25, 2019
INLAND RESIDENTIAL PROPERTIES TRUST, INC.
(Exact Name of Registrant as Specified in its Charter)
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Maryland |
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000-55765 |
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80-0966998 |
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(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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2901 Butterfield Road
Oak Brook, Illinois 60523
(Address of Principal Executive Offices)
(630) 218-8000
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
For the year ended December 31, 2018, Inland Residential Properties Trust, Inc. (the “Company”) paid cash dividends of approximately $1,705,231 to stockholders of Class A common stock, approximately $377,678 to stockholders of Class T common stock and approximately $284,937 to stockholders of Class T-3 common stock. For income tax purposes only, 24.9% were treated as capital gains and 75.1% were treated as nondividend distributions (which are treated for income tax purposes as a return of capital to the extent of a stockholder’s basis in its shares and thereafter as capital gain). The following table denotes the nature of the Company’s monthly cash dividends paid in 2018 for income tax purposes only. Stockholders are advised to consult with their tax advisors about the specific tax treatment of distributions paid by the Company in 2018. All amounts are stated in dollars per share.
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Record Date |
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Distribution Payment Date |
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Total Cash Dividends |
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Ordinary Dividend |
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Capital Gain |
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Nondividend Distributions |
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Class A Common Stock: |
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December 1-31, 2017 |
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January 3, 2018 |
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$ |
0.106164 |
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$ |
— |
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$ |
0.026393 |
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$ |
0.079771 |
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January 1-31, 2018 |
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February 1, 2018 |
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$ |
0.106164 |
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$ |
— |
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$ |
0.026393 |
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$ |
0.079771 |
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February 1-28, 2018 |
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March 1, 2018 |
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$ |
0.095890 |
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$ |
— |
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$ |
0.023839 |
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$ |
0.072051 |
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March 1-31, 2018 |
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April 2, 2018 |
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$ |
0.106164 |
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$ |
— |
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$ |
0.026393 |
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$ |
0.079771 |
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April 1-30, 2018 |
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May 1, 2018 |
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$ |
0.102740 |
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$ |
— |
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$ |
0.025541 |
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$ |
0.077199 |
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May 1-31, 2018 |
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June 1, 2018 |
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$ |
0.106164 |
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$ |
— |
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$ |
0.026393 |
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$ |
0.079771 |
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June 1-30, 2018 |
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July 2, 2018 |
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$ |
0.102740 |
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$ |
— |
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$ |
0.025541 |
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$ |
0.077199 |
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July 1-31, 2018 |
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August 1, 2018 |
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$ |
0.106164 |
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$ |
— |
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$ |
0.026393 |
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$ |
0.079771 |
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August 1-31, 2018 |
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September 4, 2018 |
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$ |
0.106164 |
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$ |
— |
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$ |
0.026393 |
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$ |
0.079771 |
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September 1-30, 2018 |
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October 1, 2018 |
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$ |
0.102740 |
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$ |
— |
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$ |
0.025541 |
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$ |
0.077199 |
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October 1-31, 2018 |
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November 1, 2018 |
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$ |
0.106164 |
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$ |
— |
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$ |
0.026393 |
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$ |
0.079771 |
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Class T Common Stock: |
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December 1-31, 2017 |
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January 3, 2018 |
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$ |
0.085823 |
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$ |
— |
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$ |
0.021336 |
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$ |
0.064487 |
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January 1-31, 2018 |
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February 1, 2018 |
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$ |
0.085823 |
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$ |
— |
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$ |
0.021336 |
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$ |
0.064487 |
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February 1-28, 2018 |
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March 1, 2018 |
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$ |
0.077518 |
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$ |
— |
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$ |
0.019271 |
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$ |
0.058247 |
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March 1-31, 2018 |
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April 2, 2018 |
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$ |
0.085513 |
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$ |
— |
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$ |
0.021259 |
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$ |
0.064254 |
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April 1-30, 2018 |
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May 1, 2018 |
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$ |
0.082751 |
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$ |
— |
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$ |
0.020572 |
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$ |
0.062179 |
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May 1-31, 2018 |
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June 1, 2018 |
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$ |
0.085509 |
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$ |
— |
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$ |
0.021258 |
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$ |
0.064251 |
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June 1-30, 2018 |
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July 2, 2018 |
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$ |
0.082751 |
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$ |
— |
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$ |
0.020572 |
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$ |
0.062179 |
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July 1-31, 2018 |
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August 1, 2018 |
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$ |
0.085509 |
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$ |
— |
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$ |
0.021258 |
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$ |
0.064251 |
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August 1-31, 2018 |
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September 4, 2018 |
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$ |
0.085509 |
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$ |
— |
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$ |
0.021258 |
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$ |
0.064251 |
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September 1-30, 2018 |
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October 1, 2018 |
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$ |
0.082751 |
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$ |
— |
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$ |
0.020572 |
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$ |
0.062179 |
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October 1-31, 2018 |
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November 1, 2018 |
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$ |
0.085509 |
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$ |
— |
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$ |
0.021258 |
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$ |
0.064251 |
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Class T-3 Common Stock: |
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December 1-31, 2017 |
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January 3, 2018 |
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$ |
0.102512 |
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$ |
— |
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$ |
0.025485 |
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$ |
0.077027 |
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January 1-31, 2018 |
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February 1, 2018 |
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$ |
0.102512 |
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$ |
— |
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$ |
0.025485 |
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$ |
0.077027 |
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February 1-28, 2018 |
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March 1, 2018 |
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$ |
0.092592 |
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$ |
— |
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$ |
0.023019 |
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$ |
0.069573 |
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March 1-31, 2018 |
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April 2, 2018 |
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$ |
0.103014 |
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$ |
— |
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$ |
0.025610 |
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$ |
0.077404 |
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April 1-30, 2018 |
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May 1, 2018 |
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$ |
0.099205 |
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$ |
— |
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$ |
0.024663 |
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$ |
0.074542 |
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May 1-31, 2018 |
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June 1, 2018 |
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$ |
0.102512 |
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$ |
— |
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$ |
0.025485 |
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$ |
0.077027 |
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June 1-30, 2018 |
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July 2, 2018 |
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$ |
0.099205 |
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$ |
— |
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$ |
0.024663 |
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$ |
0.074542 |
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July 1-31, 2018 |
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August 1, 2018 |
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$ |
0.102512 |
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$ |
— |
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$ |
0.025485 |
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$ |
0.077027 |
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August 1-31, 2018 |
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September 4, 2018 |
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$ |
0.102512 |
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$ |
— |
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$ |
0.025485 |
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$ |
0.077027 |
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September 1-30, 2018 |
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October 1, 2018 |
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$ |
0.099205 |
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$ |
— |
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$ |
0.024663 |
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$ |
0.074542 |
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October 1-31, 2018 |
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November 1, 2018 |
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$ |
0.102512 |
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$ |
— |
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$ |
0.025485 |
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$ |
0.077027 |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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INLAND RESIDENTIAL PROPERTIES TRUST, INC. |
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Date: January 25, 2019 |
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By: |
/s/ Catherine L. Lynch |
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Name: |
Catherine L. Lynch |
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Title |
Chief Financial Officer and Treasurer (Principal Financial Officer) |
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