Press Release: iStar Financial, Inc.
February 1, 2001
NEW YORK, NY -- iStar Financial Inc. (NYSE: SFI), announced yesterday the tax treatment of its 2000 distributions.
Common Stock Dividends
During 2000, taxable dividends for iStar Financial's common stock were $2.50 per share. The Company's common stock
is currently listed under the CUSIP #45031U-101 and trades under the NYSE ticker symbol SFI. For tax reporting
purposes, the 2000 taxable dividend will be classified as follows: 85.15% ($2.1291) as ordinary income and 14.85%
($0.3712) as capital gain. The following table contains this information on a quarterly basis.
Cash Taxable 20 Percent
Declaration Record Payable Distribution Ordinary Capital
Date Date Date Per Share Dividend Gain
11/29/99 12/31/99 01/28/00 0.1027* $0.1027 $ --
04/03/00 04/14/00 04/28/00 0.6000 0.4108 0.1892
07/03/00 07/17/00 07/31/00 0.6000 0.4904 0.1096
10/02/00 10/16/00 10/30/00 0.6000 0.5276 0.0724
12/15/00 12/29/00 01/12/01 0.5976** 0.5976 --
2.5003 $2.1291 $0.3712
12/15/2000 12/29/2000 01/12/01 0.0024** 0.0024 --
2.5027 $2.1315 $0.3712
Portion of fourth quarter 1999 dividend that was carried forward as taxable income into 2000.
$0.5976 of the total $0.6000 fourth quarter dividend is reportable as taxable income in 2000. $0.0024 is reportable
as taxable income in 2001.
Preferred Stock Dividends
iStar Financial's distribution of $0.58594 per share of Series B preferred stock CUSIP #45031U-200, listed under
the NYSE ticker symbol SFI pB, will be classified as follows: 84.54% ($1.9813) as ordinary income and 15.46% ($0.3623)
as capital gain. The following table contains this information.
Cash Taxable 20 Percent
Declaration Record Payable Distribution Ordinary Capital
Date Date Date Per Share Dividend Gain
02/16/00 02/29/00 03/15/00 0.5859 0.4012 0.1847
05/05/00 05/31/00 06/15/00 0.5859 0.4789 0.1070
08/15/00 08/31/00 09/15/00 0.5859 0.5153 0.0706
11/15/00 11/30/00 12/15/00 0.5859 0.5859 --
2.3436 $1.9813 $0.3623
iStar Financial's distribution of $0.57500 per share of Series C preferred stock CUSIP #45031U-309, listed under
the NYSE ticker symbol SFI pC, will be classified as follows: 84.53% ($1.9443) as ordinary income and 15.47% ($0.3557)
as capital gain. The following table contains this information on a quarterly basis.
Cash Taxable 20 Percent
Declaration Record Payable Distribution Ordinary Capital
Date Date Date Per Share Dividend Gain
02/16/00 02/29/00 03/15/00 0.5750 0.3937 0.1813
05/05/00 05/31/00 06/15/00 0.5750 0.4700 0.1050
08/15/00 08/31/00 09/15/00 0.5750 0.5056 0.0694
11/15/00 11/30/00 12/15/00 0.5750 0.5750 --
2.3000 $1.9443 $0.3557
iStar Financial's distribution of $0.50000 per share of Series D preferred stock CUSIP #45031U-408, listed under
NYSE ticker symbol SFI pD, will be classified as follows: 84.54% ($1.6908) as ordinary income and 15.46% ($0.3092)
as capital gain. The following table contains this information on a quarterly basis.
Cash Taxable 20 Percent
Declaration Record Payable Distribution Ordinary Capital
Date Date Date Per Share Dividend Gain
02/16/00 02/29/00 03/15/00 0.5000 0.3424 0.1576
05/05/00 05/31/00 06/15/00 0.5000 0.4087 0.0913
08/15/00 08/31/00 09/15/00 0.5000 0.4397 0.0603
11/15/00 11/30/00 12/15/00 0.5000 0.5000 --
2.0000 $1.6908 $0.3092
iStar Financial is the leading publicly traded finance company focused on the commercial real estate industry.
The Company provides structured financing to private and corporate owners of real estate nationwide, including
senior and junior mortgage debt, corporate and mezzanine lending, and corporate net lease financing. The Company,
which is taxed as a real estate investment trust, seeks to deliver superior risk-adjusted returns on equity to
shareholders by providing innovative and value-added financing solutions to its customers. Additional information
on iStar Financial is available on the Company's Web site at www.istarfinancial.com.
SOURCE: iStar Financial, Inc.