PW 8-K
Power REIT (PW)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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 (see General Instruction A.2. below):
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Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||
| (American) | ||||
| (American) |
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
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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. ☐
SECTION 8: OTHER EVENTS
Item 8.01 – Other Events
On January 30, 2023, the registrant issued a press release announcing the 2022 Dividend Income Tax Treatment, a copy of which is attached hereto as Exhibit [99.1] and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibits
| Ex. No. | Description | |
| 99.1 | Press Release of Power REIT. - 2022 Dividend Income Tax Treatment [Press release dated January 30, 2023] | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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.
| POWER REIT | ||
| Date: January 30, 2023 | By | /s/ David H. Lesser |
| David H. Lesser | ||
| Chairman of the Board and Chief Executive Officer | ||
Exhibit 99.1
301 Winding Road Old Bethpage, NY 11804 212-750-0371 http://www.pwreit.com/ |
 |
Power REIT Announces 2022 Dividend Income Tax Treatment
Old Bethpage, NY-- January 30, 2023, Power REIT (“Power REIT,” “we,” “our,” or the “Company;” NYSE American: PW and PW.PRA), today announced the estimated Federal income tax treatment of the Company’s 2022 distributions on its 7.75% Series A Preferred Stock (CUSIP # 73933H200).
The Federal income tax classification of the distribution per share on the Company’s 7.75% Series A Preferred Stock with respect to the calendar year ended December 31, 2022 is shown in the table below:
| Record Date | Payable Date | Total Distribution Per Share | Ordinary Income Per Share | Return of Capital Per Share | Capital Gain Per Share | |||||||||||||
| 2/15/22 | 3/15/22 | $ | 0.484375 | $ | 0.484375 | $ | 0.0 | $ | 0.00 | |||||||||
| 5/15/22 | 6/15/22 | $ | 0.484375 | $ | 0.484375 | $ | 0.0 | $ | 0.00 | |||||||||
| 8/15/22 | 9/15/22 | $ | 0.484375 | $ | 0.484375 | $ | 0.0 | $ | 0.00 | |||||||||
Nothing contained herein or therein should be construed as tax advice. Consult your tax advisor for more information. Furthermore, you may not rely upon any information herein or therein for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code.
Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company’s distributions.
About Power REIT
Power REIT, with a focus on the “Triple Bottom Line” and a commitment to Profit, Planet and People is a specialized real estate investment trust (REIT) that owns sustainable real estate related to infrastructure assets including properties for Controlled Environment Agriculture, Renewable Energy and Transportation.
Additional information about Power REIT can be found on its website: www.pwreit.com
Cautionary Statement about Forward-Looking Statements
This document includes forward-looking statements within the meaning of the U.S. securities laws. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. You can generally identify forward-looking statements as statements containing the words “believe,” “expect,” “will,” “anticipate,” “intend,” “estimate,” “project,” “plan,” “assume”, “seek” or other similar expressions, or negatives of those expressions, although not all forward-looking statements contain these identifying words. All statements contained in this document regarding our future strategy, future operations, future prospects, the future of our industries and results that might be obtained by pursuing management’s current or future plans and objectives are forward-looking statements. You should not place undue reliance on any forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our forward-looking statements are based on the information currently available to us and speak only as of the date of the filing of this document. Over time, our actual results, performance, financial condition or achievements may differ from the anticipated results, performance, financial condition or achievements that are expressed or implied by our forward-looking statements, and such differences may be significant and materially adverse to our security holders.
| Contact: | |
| David H. Lesser, Chairman & CEO | Mary Jensen, Investor Relations |
| [email protected] | [email protected] |
| 212-750-0371 | 310-526-1707 |
301 Winding Road Old Bethpage, NY 11804 |
|
| www.pwreit.com |