SOUTHFIELD, Mich., Jan. 7 /PRNewswire/ -- Ramco-Gershenson Properties
Trust (NYSE: RPT) announced today that 1999 distributions on the company's
common shares of beneficial interest represent a 34.09% return of capital.
The distributions for 1999 were based upon a quarterly rate of $0.42 per share
and an annual dividend distribution of $1.68 per share.
Ramco-Gershenson Properties Trust has a portfolio of 54 shopping centers,
with approximately 10.5 million square feet of gross leasable area, located in
Michigan, Ohio, Wisconsin, New Jersey, Maryland, Virginia, North Carolina,
South Carolina, Tennessee, Georgia, Alabama and Florida. Headquartered in
Southfield, Michigan, the Company is a fully integrated, self-administered,
publicly-traded real estate investment trust (REIT). The Trust owns,
develops, acquires and manages community shopping centers, regional malls and
single tenant retail properties, nationally.
REPORTING INFORMATION (FORM 1099) - DISTRIBUTIONS
The income tax treatment for 1999 distributions for Ramco-Gershenson
Properties Trust common shares of beneficial interest, CUSIP No. 751452202*,
traded on the New York Stock Exchange under ticker symbol RPT, is as follows:
Gross Taxable
Declaration Record Payable Distribution Ordinary Return of
Date Date Date Per Share Dividend Capital
3/10/99 3/31/99 4/20/99 $0.4200 $0.2768 $0.1432
6/9/99 6/30/99 7/20/99 $0.4200 $0.2768 $0.1432
9/8/99 9/30/99 10/19/99 $0.4200 $0.2768 $0.1432
12/8/99 12/31/99 1/18/00 $0.4200 $0.2768 $0.1432
Total $1.6800 $1.1072 $0.5728
Unrecaptured
Declaration Record Short-term 28 Percent 20 Percent Section 1250
Date Date Capital Gain Rate Gain Rate Gain Gain
3/10/99 3/31/99 $0.00 $0.00 $0.00 $0.00
6/9/99 6/30/99 $0.00 $0.00 $0.00 $0.00
9/8/99 9/30/99 $0.00 $0.00 $0.00 $0.00
12/8/99 12/31/99 $0.00 $0.00 $0.00 $0.00
Total $0.00 $0.00 $0.00 $0.00
*Also applies to CUSIP #751452103, for shares of beneficial interest that
have not been exchanged for common shares of beneficial interest in the
Maryland Trust pursuant to a change of venue merger which changed the Trust's
state of organization from Massachusetts to Maryland.
The Company did not incur any foreign taxes.
This information represents final income allocations.
SOURCE Ramco-Gershenson Properties Trust
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CONTACT:
Dennis Gershenson, President & CEO or Richard
Smith, CFO, both of Ramco Gershenson Properties Trust,
248-350-9900, fax, 248-350-9925
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