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Taubman Centers Announces Taxable Allocations of 2012 Common and Preferred Share Dividend Distributions

  Taubman Centers Announces Taxable Allocations of 2012 Common and Preferred
                         Share Dividend Distributions

PR Newswire

BLOOMFIELD HILLS, Mich., Jan. 11, 2013

BLOOMFIELD HILLS, Mich., Jan. 11, 2013 /PRNewswire/ --Taubman Centers, Inc.
(NYSE: TCO) announced today the tax allocations of the 2012 dividend
distributions on its common shares and on its 8% Series G, 7.625% Series H,
and 6.5% Series J Cumulative Redeemable Preferred Shares.

(Logo: http://photos.prnewswire.com/prnh/20080428/CLM116LOGO )

The 2012 distributions paid with respect to Taubman Centers, Inc. Common Stock
(NYSE: TCO/Cusip no. 876664103) are as follows:



                                                            15%
                                                    Return  Rate    Unrecaptured
Declaration Record   Payable  Gross        Ordinary of      Long    Sec. 1250
Date        Date     Date     Distribution Dividend Capital Term    Capital Gain
                                           Percent  Percent Capital Percent
                                                            Gain
                                                            Percent
03/01/12    03/15/12 03/30/12 0.46250      70.652%  29.348% 0%      0%
06/07/12    06/18/12 06/29/12 0.46250      70.652%  29.348% 0%      0%
09/05/12    09/17/12 09/28/12 0.46250      70.652%  29.348% 0%      0%
11/30/12    12/17/12 12/31/12 0.46250      70.652%  29.348% 0%      0%
2012 TOTALS PER SHARE         1.85000      70.652%  29.348% 0%      0%



  oAmounts reported to Direct Share Purchase and Dividend Reinvestment Plan
    participants will differ due to administrative costs. Participants should
    refer to their Form 1099, which will be mailed in late January, and
    contact Computershare Shareowner's Services at (888) 877-2889 for further
    information.
  oThe return of capital percentage on common stock dividends is also
    reported on the Taubman Website at www.taubman.com , pursuant to U.S. tax
    basis reporting required under Internal Revenue Code Section 6045B.
  oFor 2012, Taubman Centers, Inc. had no distributions to common stock
    holders allocable as qualified dividends.
  oTaxability of the 2012 common dividend is not indicative of the taxability
    of future dividends.

The 2012 distributions paid with respect to Taubman Centers, Inc. Series G
Preferred Stock (NYSE: TCO PrG/Cusip no. 876664301) are as follows:



                                                            15%
                                                    Return  Rate    Unrecaptured
Declaration Record   Payable  Gross        Ordinary of      Long    Sec. 1250
Date        Date     Date     Distribution Dividend Capital Term    Capital Gain
                                           Percent  Percent Capital Percent
                                                            Gain
                                                            Percent
03/01/12    03/15/12 03/30/12 0.5000000    100%     0%      0%      0%
06/07/12    06/18/12 06/29/12 0.5000000    100%     0%      0%      0%
08/03/12    09/04/12 09/04/12 0.3500000    100%     0%      0%      0%
2012 TOTALS PER SHARE         1.3500000    100%     0%      0%      0%



  oFor 2012, Taubman Centers, Inc. had no distributions to Series G Preferred
    Stock holders allocable as qualified dividends.
  oThe Company redeemed all 4,000,000 shares of its outstanding Series G
    Preferred Shares on September 4, 2012 for $25 per share and paid to all
    holders of the Series G Preferred Shares $0.35 per share in accrued
    dividends, which are reported above as a 2012 dividend payment. The
    redemption of the Series G Preferred Stock was a full redemption. The
    appropriate income tax treatment of the $25 per share redemption payment
    (whether capital gain or loss from the sale or exchange of stock or
    ordinary income from a dividend payment) depends on an individual
    investor's facts and circumstances.

The 2012 distributions paid with respect to Taubman Centers, Inc.Series H
Preferred Stock (NYSE: TCO PrH/Cusip no. 876664400) are as follows:



                                                            15%
                                                    Return  Rate    Unrecaptured
Declaration Record   Payable  Gross        Ordinary of      Long    Sec. 1250
Date        Date     Date     Distribution Dividend Capital Term    Capital Gain
                                           Percent  Percent Capital Percent
                                                            Gain
                                                            Percent
03/01/12    03/15/12 03/30/12 0.47656250   100%     0%      0%      0%
06/07/12    06/18/12 06/29/12 0.47656250   100%     0%      0%      0%
08/03/12    09/04/12 09/04/12 0.33359375   100%     0%      0%      0%
2012 TOTALS PER SHARE         1.28671875   100%     0%      0%      0%



  oFor 2012, Taubman Centers, Inc. had no distributions to Series H Preferred
    Stock holders allocable as qualified dividends.
  oThe Company redeemed all 3,480,000 shares of its outstanding Series H
    Preferred Shares on September 4, 2012 for $25 per share and paid to all
    holders of the Series H Preferred Shares $0.33359375 per share in accrued
    dividends, which are reported above as a 2012 dividend payment. The
    redemption of the Series H Preferred Stock was a full redemption. The
    appropriate income tax treatment of the $25 per share redemption payment
    (whether capital gain or loss from the sale or exchange of stock or
    ordinary income from a dividend payment) depends on an individual
    investor's facts and circumstances.

The 2012 distributions paid with respect to Taubman Centers, Inc. Series J
Preferred Stock (NYSE: TCO PrJ/Cusip no. 876664608) are as follows:



                                                            15%
                                                    Return  Rate    Unrecaptured
Declaration Record   Payable  Gross        Ordinary of      Long    Sec. 1250
Date        Date     Date     Distribution Dividend Capital Term    Capital Gain
                                           Percent  Percent Capital Percent
                                                            Gain
                                                            Percent
09/05/12    09/17/12 09/28/12 0.21215278   100%     0%      0%      0%
11/30/12    12/17/12 12/31/12 0.40625000   100%     0%      0%      0%
2012 TOTALS PER SHARE         0.61840278   100%     0%      0%      0%



  oFor 2012, Taubman Centers, Inc. had no distributions to Series J Preferred
    Stock holders allocable as qualified dividends.
  oTaxability of the 2012 dividend to Series J Preferred Stock holders is not
    indicative of the taxability of future dividends.

For additional information, please refer to the Taubman Centers, Inc. website,
www.taubman.com or call Mark Godek, Director of Tax Compliance at (248)
258-7667.

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in
the ownership, management and/or leasing of 27 regional, super-regional and
outlet shopping centers in the U.S. and Asia. Taubman's U.S. owned properties
are the most productive in the publicly held U.S. regional mall industry.
Taubman is currently developing Taubman Prestige Outlets Chesterfield in
Chesterfield, Missouri; The Mall at University Town Center in Sarasota,
Florida; The Mall of San Juan in San Juan, Puerto Rico; and shopping malls in
Xi'an, China and Hanam, South Korea. Taubman Centers is headquartered in
Bloomfield Hills, Michigan and Taubman Asia, the platform for Taubman Centers'
expansion into China and South Korea, is headquartered in Hong Kong. Founded
in 1950, Taubman has over 60 years of experience in the shopping center
industry. For more information about Taubman, visit www.taubman.com.

For ease of use, references in this press release to "Taubman Centers,"
"company," "Taubman" or an operating platform mean Taubman Centers, Inc.
and/or one or more of a number of separate, affiliated entities. Business is
actually conducted by an affiliated entity rather than Taubman Centers, Inc.
itself or the named operating platform.

This press release may contain 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. These statements reflect
management's current views with respect to future events and financial
performance. The forward-looking statements included in this release are made
as of the date hereof. Except as required by law, we assume no obligation to
update these forward-looking statements, even if new information becomes
available in the future. Actual results may differ materially from those
expected because of various risks and uncertainties. You should review the
company's filings with the Securities and Exchange Commission, including "Risk
Factors" in its most recent Annual Report on Form 10-K and subsequent
quarterly reports, for a discussion of such risks and uncertainties.

SOURCE Taubman Centers, Inc.

Website: http://www.taubman.com
Contact: Barbara Baker, Taubman, Vice President, Corporate Affairs & Investor
Relations, +1-248-258-7367, bbaker@taubman.com