I was just looking at this, I own it and know about the new pfd C due to the sharp eyes on this board. The treatment of dividends for 2012 has me concerned unless of course they are wrong...but 100% of the divvies are return of capital.


oh heck, I lost the link to it.

CapLease Announces Tax Treatment of 2012 Dividends
Company Release - 01/25/2013 11:27

NEW YORK--(BUSINESS WIRE)-- CapLease, Inc. (NYSE: LSE) today announced the income tax treatment of its 2012 common and preferred stock dividend payments.

Common Stock




Dividend Per

Share
Record Date Date of Payment

Total Ordinary

Dividends


Nondividend

Distributions

(Return of Capital)

$0.065 4/2/12 4/16/12 $0.00 $0.065
$0.065 6/29/12 7/16/12 $0.00 $0.065
$0.07 9/28/12 10/15/12 $0.00 $0.07
$0.075 12/31/12 1/15/13 $0.00 $0.075
Totals $0.275 $0.00 $0.275
Percent 0.00% 100.00%



Series A Cumulative Redeemable Preferred Stock




Dividend Per

Share
Record Date Date of Payment

Total Ordinary

Dividends


Nondividend

Distributions

(Return of Capital)

$0.5078125 4/2/12 4/16/12 $0.00 $0.5078125
$0.5078125 6/29/12 7/16/12 $0.00 $0.5078125
$0.5078125 9/28/12 10/15/12 $0.00 $0.5078125
$0.5078125 12/31/12 1/15/13 $0.00 $0.5078125
Totals $2.0312500 $0.00 $2.0312500
Percent 0.00% 100.00%



Series B Cumulative Redeemable Preferred Stock




Dividend Per

Share
Record Date Date of Payment

Total Ordinary

Dividends


Nondividend

Distributions

(Return of Capital)

$0.500174 6/29/12 7/16/12 $0.00 $0.500174
$0.5234375 9/28/12 10/15/12 $0.00 $0.5234375
$0.5234375 12/31/12 1/15/13 $0.00 $0.5234375
Totals $1.547049 $0.00 $1.547049
Percent 0.00% 100.00%


As noted above, the entire fourth quarter 2012 dividend though paid in Janu

While others view "return of capital" as a warning, depending on the company, I like it because it converts what should have been an ordinary income into "capital gains".

well roc is okay to a certain degree but 100%! They're paying me back my money...heck I could have kept it and saved them the trouble. :)

ROC is not necessarily a bad management of a reit's distributions. See the below explanation of this accouting methodology.

http://www.bogleheads.org/wiki/Return_of_capital_distributio...