Prologis Announces Tax Treatment of 2011 Distributions

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SAN FRANCISCO, Jan. 27, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced the tax treatment of its 2011 distributions.  The tables attached as exhibits reflect the tax treatment of distributions made prior to the merger on ProLogis common shares and preferred shares and for the full year on AMB Property Corporation common stock and preferred stock.  Exhibit A presents information relative to ProLogis common shares and AMB common stock, including common stock of the combined company.  Exhibit B presents information relative to ProLogis preferred shares and AMB preferred stock, including preferred stock of the combined company. Please refer to the attached exhibits for CUSIP changes related to common and preferred shares.

On June 3, 2011, AMB Property Corporation and ProLogis completed their merger and became Prologis, Inc. Under the structure of the merger, AMB Property Corporation was the legal acquirer and ProLogis was the accounting acquirer.  AMB Property Corporation was renamed Prologis, Inc. effective as of the date of merger. Under the terms of the merger agreement, each ProLogis common share outstanding immediately prior to the closing was converted into the right to receive 0.4464 of a newly issued share of the combined company's common stock.  Each legacy AMB share, held by a former AMB stockholder, remained outstanding as a share of the combined company's common stock.  Each preferred share of ProLogis was exchanged for one newly issued  share of preferred stock of the combined company and each share of AMB preferred stock remained outstanding as a share of preferred stock of the combined company.    

If you held shares of common or preferred stock of AMB Property Corporation or Prologis, Inc. or common or preferred shares of ProLogis in your name at any time during 2011, an IRS Form 1099-DIV will be provided to you by Computershare, Prologis, Inc.'s transfer agent, on or about January 31, 2012.  If you held shares in "street name" during 2011, the IRS form provided by your bank, brokerage firm or nominee may report only the gross distributions paid to you.  Therefore, you may need the information set forth in the attached to properly complete your federal tax return.

The attached information has been prepared using the best available information to date. Prologis, Inc.'s federal income tax return for the year ended December 31, 2011 has not yet been filed.  Please note that federal tax laws affect taxpayers differently, and we cannot advise you on how distributions should be reported on your federal income tax return.  Please also note that state and local taxation of REIT distributions vary and may not be the same as the federal rules.  Prologis, Inc. thus urges you to consult with your own tax advisor with respect to the federal, state and local income tax consequences of these distributions.

About Prologis
Prologis, Inc. is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia.  As of September 30, 2011, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects totaling approximately 600 million square feet (55.7 million square meters) in 22 countries.  The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.

Exhibit A
Tax Treatment of 2011 Common Distributions

ProLogis
Common Shares
For common shareholders of record during the period January 1, 2011 to June 3, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

Return of Capital

743410102

PLD

2/14/2011

2/28/2011

$0.112500

$0.000000

$0.001631

$0.082431

$0.002488

$0.025950

743410102

PLD

5/16/2011

5/25/2011

$0.112500

$0.000000

$0.002433

$0.067638

$0.003712

$0.038717

 

Prologis, Inc.
Common Stock
For stockholders of record for AMB Property Corporation for the full-year 2011 and Prologis, Inc. from June 3, 2011 through December 31, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

00163T109

AMB

12/23/2010

1/7/2011

$0.257043

$0.030798

$0.000332

$0.156903

$0.069010

00163T109

AMB

2/14/2011

2/28/2011

$0.280000

$0.033548

$0.000362

$0.170917

$0.075173

00163T109

AMB

5/16/2011

5/25/2011

$0.280000

$0.033548

$0.000362

$0.170917

$0.075173

74340W103

PLD

9/19/2011

9/30/2011

$0.280000

$0.033548

$0.000362

$0.170917

$0.075173

74340W103

PLD

12/19/2011

12/29/2011

$0.280000

$0.033548

$0.000362

$0.170917

$0.075173

Exhibit B
Tax Treatment of 2011 Preferred Distributions

ProLogis
Series C Cumulative Redeemable Preferred Stock / Exchanged for Series Q Preferred Stock on June 3, 2011
For shareholders of record prior to June 3, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

Return of Capital

743410409

PLD/PC

3/15/2011

3/31/2011

$1.067500

$0.00000000

$0.035206

$0.978582

$0.053712

$0.000000

 

ProLogis
Series F Cumulative Redeemable Preferred Stock / Exchanged for Series R Preferred Stock on June 3, 2011
For shareholders of record prior to June 3, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

Return of Capital

743410706

PLD/PRF

3/15/2011

3/31/2011

$0.421900

$0.000000

$0.013914

$0.386758

$0.021228

$0.000000

 

ProLogis
Series G Cumulative Redeemable Preferred Stock / Exchanged for Series S Preferred Stock on June 3, 2011
For shareholders of record prior to June 3, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

Return of Capital

743410805

PLD/PRG

3/15/2011

3/31/2011

$0.421900

$0.000000

$0.013914

$0.386758

$0.021228

$0.000000

 

Prologis, Inc.
Series L Cumulative Redeemable Preferred Stock
For stockholders of record for AMB Property Corporation for the full-year 2011 and Prologis, Inc. from June 3, 2011 through December 31, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

00163T307

AMB.PrL

1/7/2011

1/18/2011

$0.406250

$0.048675

$0.000525

$0.247982

$0.109068

00163T307

AMB.PrL

4/5/2011

4/15/2011

$0.406250

$0.048675

$0.000525

$0.247982

$0.109068

74340W509

PLD/PL

7/5/2011

7/15/2011

$0.406250

$0.048675

$0.000525

$0.247982

$0.109068

74340W509

PLD/PL

10/4/2011

10/15/2011

$0.406250

$0.048675

$0.000525

$0.247982

$0.109068

74340W509

PLD/PL

12/19/2011

1/17/2012

$0.406250

$0.048675

$0.000525

$0.247982

$0.109068

 

Prologis, Inc.
Series M Cumulative Redeemable Preferred Stock
For stockholders of record for AMB Property Corporation for the full-year 2011 and Prologis, Inc. from June 3, 2011 through December 31, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

00163T406

AMB.PrM

1/7/2011

1/18/2011

$0.421875

0.050547

0.000545

0.257520

0.113263

00163T406

AMB.PrM

4/5/2011

4/15/2011

$0.421875

0.050547

0.000545

0.257520

0.113263

74340W608

PLD/PM

7/5/2011

7/15/2011

$0.421875

0.050547

0.000545

0.257520

0.113263

74340W608

PLD/PM

10/4/2011

10/15/2011

$0.421875

0.050547

0.000545

0.257520

0.113263

74340W608

PLD/PM

12/19/2011

1/17/2012

$0.421875

0.050547

0.000545

0.257520

0.113263

 

Prologis, Inc.
Series O Cumulative Redeemable Preferred Stock
For stockholders of record for AMB Property Corporation for the full-year 2011 and Prologis, Inc. from June 3, 2011 through December 31, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

00163T505

AMB.PrO

1/7/2011

1/18/2011

$0.437500

0.052419

0.000565

0.267058

0.117458

00163T505

AMB.PrO

4/5/2011

4/15/2011

$0.437500

0.052419

0.000565

0.267058

0.117458

74340W707

PLD/PO

7/5/2011

7/15/2011

$0.437500

0.052419

0.000565

0.267058

0.117458

74340W707

PLD/PO

10/4/2011

10/15/2011

$0.437500

0.052419

0.000565

0.267058

0.117458

74340W707

PLD/PO

12/19/2011

1/17/2012

$0.437500

0.052419

0.000565

0.267058

0.117458

 

Prologis, Inc.
Series P Cumulative Redeemable Preferred Stock
For stockholders of record for AMB Property Corporation for the full-year 2011 and Prologis, Inc. from June 3, 2011 through December 31, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

00163T604

AMB.PrP

1/7/2011

1/18/2011

$0.428125

0.051296

0.000553

0.261335

0.114941

00163T604

AMB.PrP

4/5/2011

4/15/2011

$0.428125

0.051296

0.000553

0.261335

0.114941

74340W806

PLD/PP

7/5/2011

7/15/2011

$0.428125

0.051296

0.000553

0.261335

0.114941

74340W806

PLD/PP

10/4/2011

10/15/2011

$0.428125

0.051296

0.000553

0.261335

0.114941

74340W806

PLD/PP

12/19/2011

1/17/2012

$0.428125

0.051296

0.000553

0.261335

0.114941

 

Prologis, Inc.
Series Q Cumulative Redeemable Preferred Stock
For stockholders of record for Prologis, Inc. from June 3, 2011 through December 31, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

74340W202

PLD/PQ

6/17/2011

6/30/2011

$1.067500

0.127904

0.001380

0.651620

0.286596

74340W202

PLD/PQ

9/19/2011

9/30/2011

$1.067500

0.127904

0.001380

0.651620

0.286596

74340W202

PLD/PQ

12/19/2011

1/3/2012

$1.067500

0.127904

0.001380

0.651620

0.286596

 

Prologis, Inc.
Series R Cumulative Redeemable Preferred Stock
For stockholders of record for Prologis, Inc. from June 3, 2011 through December 31, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

74340W301

PLD/PR

6/17/2011

6/30/2011

$0.421875

0.050547

0.000545

0.257520

0.113263

74340W301

PLD/PR

9/19/2011

9/30/2011

$0.421875

0.050547

0.000545

0.257520

0.113263

74340W301

PLD/PR

12/19/2011

1/3/2012

$0.421875

0.050547

0.000545

0.257520

0.113263

 

Prologis, Inc.
Series S Cumulative Redeemable Preferred Stock
For stockholders of record for Prologis, Inc. from June 3, 2011 through December 31, 2011

CUSIP

Ticker Symbol

Record Dates

Payable Dates

Cash Dividend

($ per share)

Ordinary Taxable Dividend

($ per share)

Qualified Taxable Dividend

($ per share)

15% Capital Gain

($ per share)

25% Capital Gain

(Unrecaptured Section 1250 Gain)

($ per share) (1)

74340W400

PLD/PS

6/17/2011

6/30/2011

$0.421875

0.050547

0.000545

0.257520

0.113263

74340W400

PLD/PS

9/19/2011

9/30/2011

$0.421875

0.050547

0.000545

0.257520

0.113263

74340W400

PLD/PS

12/19/2011

1/3/2012

$0.421875

0.050547

0.000545

0.257520

0.113263

(1) Corporate shareholders may be subject to IRC §291(a) reduction in certain corporate preference items.

SOURCE Prologis, Inc.

Released January 27, 2012