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Kilroy Realty Announces 2018 Tax Treatment of Its Dividend Distributions

LOS ANGELES–(BUSINESS WIRE)–Kilroy Realty Corporation (NYSE: KRC) announced today the 2018
tax treatment of its dividend distributions. The company’s total
dividend distributions per share of common stock (CUSIP #49427F108) are
to be classified for income tax purposes as follows:

                 
Record
Date
  Payable
Date
 

Total
Distribution
per Share

 

Total
Distribution
Attributable
to 2018

 

2018
Taxable
Ordinary
Dividend

 

2018 Total
Qualified
Dividend (1)

 

2018
Total
Capital
Gain
Distribution

 

 

2018
Unrecaptured
Section 1250
Gain (2)

 

2018
Return of
Capital

 

2018
Section
199A
Dividends (3)

12/29/2017   1/12/2018   $.4250000   $.4250000   $.3566615   $.0008078   $.0018503     $.0664882   $.3558537
3/29/2018   4/18/2018   .4250000   .4250000   .3566615   .0008078   .0018503     .0664882   .3558537
6/29/2018   7/18/2018   .4550000   .4550000   .3818376   .0008648   .0019809     .0711815   .3809728
9/28/2018   10/17/2018   .4550000   .4550000   .3818376   .0008648   .0019809     .0711815   .3809728
(1)   Total Qualified Dividend is a subset of, and is included in, the
Taxable Ordinary Dividend amount.
(2) Unrecaptured Section 1250 Gain is a subset of, and is included in,
the Total Capital Gain Distribution amount.
(3) The Tax Cuts and Jobs Act enacted on December 22, 2017 generally
allows a deduction for individuals equal to 20% of ordinary
dividends distributed by a REIT (excluding capital gain dividends
and qualified dividend income). Section 199A Dividends is a subset
of, and is included in, the Taxable Ordinary Dividend Amount.
 

The dividend distributions made to holders of record as of December 31,
2018 and paid on January 15, 2019 are considered 2019 dividend
distributions for federal income tax purposes.

Stockholders are encouraged to consult with their tax advisors as to
their specific tax treatment for Kilroy Realty Corporation common
distributions.

About Kilroy Realty Corporation. Kilroy Realty Corporation
(KRC), a publicly traded real estate investment trust and member of the
S&P MidCap 400 Index, is one of the West Coast’s premier landlords. The
company has over 70 years of experience developing, acquiring and
managing office and mixed-use real estate assets. The company provides
physical work environments that foster creativity and productivity and
serves a broad roster of dynamic, innovation-driven tenants, including
technology, entertainment, digital media and health care companies.

At September 30, 2018, the company’s stabilized portfolio totaled
approximately 13.9 million square feet of office space located in the
coastal regions of Los Angeles, Orange County, San Diego, the San
Francisco Bay Area and Greater Seattle and 200 residential units located
in the Hollywood submarket of Los Angeles. In addition, KRC had three
projects under construction totaling approximately 1.0 million square
feet of office space, 608 residential units and 120,000 square feet of
retail space as well as two projects in the tenant improvement phase
totaling approximately 1.2 million square feet of office and PDR space.
The office components of the two projects are fully leased to Adobe and
Dropbox.

The company’s commitment and leadership position in sustainability has
been recognized by various industry groups across the world. In
September 2018, the company was recognized by GRESB as North American
leader across all asset classes and global world leader among all
publicly traded real estate companies. Other sustainability accolades
include NAREIT’s Leader in the Light award for the past five years, the
EPA’s highest honor of Sustained Excellence and winner of ENERGY STAR
Partner of the Year for the past five years. The company is listed in
the Dow Jones Sustainability World Index. At the end of the third
quarter, the company’s stabilized portfolio was 59% LEED certified and
77% of eligible properties were ENERGY STAR certified. More information
is available at http://www.kilroyrealty.com.

Forward-Looking Statements. This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements are based
on our current expectations, beliefs and assumptions, and are not
guarantees of future performance. Forward-looking statements are
inherently subject to uncertainties, risks, changes in circumstances,
trends and factors that are difficult to predict, many of which are
outside of our control. Accordingly, actual performance, results and
events may vary materially from those indicated or implied in the
forward-looking statements, and you should not rely on the
forward-looking statements as predictions of future performance, results
or events. Numerous factors could cause actual future performance,
results and events to differ materially from those indicated in the
forward-looking statements, including, among others: global market and
general economic conditions and their effect on our liquidity and
financial conditions and those of our tenants; adverse economic or real
estate conditions generally, and specifically, in the States of
California and Washington; risks associated with our investment in real
estate assets, which are illiquid, and with trends in the real estate
industry; defaults on or non-renewal of leases by tenants; any
significant downturn in tenants’ businesses; our ability to re-lease
property at or above current market rates; costs to comply with
government regulations, including environmental remediation; the
availability of cash for distribution and debt service and exposure to
risk of default under debt obligations; increases in interest rates and
our ability to manage interest rate exposure; the availability of
financing on attractive terms or at all, which may adversely impact our
future interest expense and our ability to pursue development,
redevelopment and acquisition opportunities and refinance existing debt;
a decline in real estate asset valuations, which may limit our ability
to dispose of assets at attractive prices or obtain or maintain debt
financing, and which may result in write-offs or impairment charges;
significant competition, which may decrease the occupancy and rental
rates of properties; potential losses that may not be covered by
insurance; the ability to successfully complete acquisitions and
dispositions on announced terms; the ability to successfully operate
acquired, developed and redeveloped properties; the ability to
successfully complete development and redevelopment projects on schedule
and within budgeted amounts; delays or refusals in obtaining all
necessary zoning, land use and other required entitlements, governmental
permits and authorizations for our development and redevelopment
properties; increases in anticipated capital expenditures, tenant
improvement and/or leasing costs; defaults on leases for land on which
some of our properties are located; adverse changes to, or enactment or
implementations of, tax laws or other applicable laws, regulations or
legislation, as well as business and consumer reactions to such changes;
risks associated with joint venture investments, including our lack of
sole decision-making authority, our reliance on co-venturers’ financial
condition and disputes between us and our co-venturers; environmental
uncertainties and risks related to natural disasters; and our ability to
maintain our status as a REIT. These factors are not exhaustive and
additional factors could adversely affect our business and financial
performance. For a discussion of additional factors that could
materially adversely affect our business and financial performance, see
the factors included under the caption “Risk Factors” in our annual
report on Form 10-K for the year ended December 31, 2017 and our other
filings with the Securities and Exchange Commission. All forward-looking
statements are based on currently available information, and speak only
as of the dates on which they are made. We assume no obligation to
update any forward-looking statement made in this press release that
becomes untrue because of subsequent events, new information or
otherwise, except to the extent we are required to do so in connection
with our ongoing requirements under federal securities laws.

Contacts

Tyler H. Rose
Executive Vice President
and Chief Financial
Officer
(310) 481-8484
or
Michelle Ngo
Senior Vice
President
and Treasurer
(310) 481-8581

leverton

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