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Dividend Reinvestment Plan |
Dear Stockholders: |
TriNet Corporate Realty Trust, Inc. (the "Company") is pleased to offer you the opportunity to participate in its dividend reinvestment plan.
The TriNet Corporate Realty Trust Automatic Dividend Reinvestment Plan (the "Plan") is a simple, convenient way to increase your investment in the Company's Common Stock ("Common Stock"). Participation in this Plan is optional. You may subscribe to the Plan, withdraw from the Plan or make cash investments at any time. Harris Trust & Savings Bank ("Harris") administers the Plan. As your agent, Harris will invest your dividends and any additional cash investments you choose to make in the Company's Common Stock at the then current market price. The Company pays the brokerage commission on all purchases of shares made by Plan participants. This section explains how the Plan works. Please give it careful consideration. Should you decide to take advantage of the Plan, simply request an authorization card from our Mail Room and return the completed form to Harris. |
Sincerely, | |
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Mark S. Whiting President and Chief Executive Officer |
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Benefits of the TriNet Corporate Realty Trust Automatic Dividend Reinvestment Plan
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The answers to the following questions explain how the plan works: |
Who may participate? If you're a stockholder and have at least 100 shares of the Company's Common Stock registered in your name, you are eligible to participate. If you own shares held in the name of a broker, bank or other nominee and wish to participate, you should request that the shares be transferred to your name.
Why is it economical to purchase shares through the Plan? A stockholder pays no brokerage commissions or any service charges connected with the purchase. A stockholder only pays brokerage commissions on the sale of shares as described in paragraph 6 of the "Agreement". All charges for purchases are paid by the Company. Who administers the Plan? The Company's Automatic Dividend Reinvestment Plan is administered by Harris Trust & Savings Bank. Harris, as your agent, will hold your stock certificates (unless otherwise requested) ensuring their safekeeping as long as you participate in the Plan. How are additional shares purchased? Should you enroll, Harris will establish an account for you and use your cash dividends to purchase additional shares of the Company's Common Stock at the market price on the purchase date. Please remember that after you enroll in the Plan, you will not receive a dividend check from the shares in the Plan unless you cancel your participation. Can I make cash payments to purchase additional shares? Yes. After Harris has received and reinvested your first dividend, you may elect to contribute from $100 to $15,000 quarterly, in $10 increments, towards the purchase of additional shares of the Company's Common Stock. Part of the statement you receive will be a tear-off form that you may use to make voluntary cash contributions for your account. No interest will be paid on uninvested cash contributions, which will be invested in shares of the Company's Common Stock promptly within thirty days of receipt by Harris. You have the right to request the return of any voluntary cash payment up to 48 hours before it is invested. Do fractional shares also receive dividends? Yes. If your dividend or voluntary cash contributions are not large enough to purchase whole shares, your account will be credited with a fraction of a share and you will earn dividends on a pro rata basis. Do I have to reinvest all my dividends? No. You may choose to reinvest dividends paid on a portion of your shares and elect to have a dividend check sent to you for the remainder. How do I keep track of my progress? After each purchase, you will receive a statement of your account from Harris showing dividend and/or voluntary cash contributions received, the amount you invested, shares purchased, price per share and the total number of shares held for you by Harris. Are the reinvested dividends taxable? Yes. Your reinvested dividends and all dividends arising from reinvestment will be taxable. In addition, under a ruling issued by the Internal Revenue Service, brokerage commissions and service charges paid by the Company on your behalf are to be treated as dividend income to you for tax purposes. The Internal Revenue Service has also ruled that the amount paid to cover the service charge is deductible by you on your Federal Income Tax return if you itemize deductions, and you may include amounts paid for brokerage commissions in your cost basis of shares purchased. Annually, you will receive a form 1099-DIV from Harris reporting the amount and nature of dividends paid to you as well as a statement showing the accumulated totals of the year's transactions. Stockholders should retain both statements for use when preparing their annual income tax returns and should consult their personal tax advisors concerning proper treatment of these amounts. Will Harris hold my shares? Yes. All shares purchased by Harris for you under the Plan will be held by them, as your agent, for you. No certificates will be issued to you unless you request them in writing. In no event will certificates be issued for fractional shares. If you own additional stock in the Company, you may deposit these certificates with Harris for safekeeping. If you wish to deposit these shares, you should request the necessary forms from Harris. Do I retain voting rights of the stock? Yes. Before each stockholders meeting, Harris will mail a proxy form to you covering the shares held of record by you and the shares held in your dividend reinvestment account. Upon receipt of your signed proxy, Harris will vote your shares as you direct. If you do not return your proxy to Harris, the shares in your account will not be voted. How do I enroll? You can join the Plan at any time. To request an enrollment form, please visit our Mail Room. Your participation will begin with the next dividend payment, provided your authorization card is received on or before the record date for the dividend. If your authorization is received after the record date, your participation may be delayed until the following dividend. Please read the text of the agreement with Harris. Questions concerning the Plan should be directed to:
P.O. Box A3309 Chicago, IL 60690-3309 How can I terminate enrollment in the Plan? You may end your enrollment at any time by writing to Harris at the above address. Beginning with the first dividend carrying a record date that follows your notice of termination, dividend payments will be made directly to you. After you terminate, Harris will issue certificates to you for full shares. Fractional shares and uninvested voluntary cash contributions will be paid to you in cash, less a $5 termination charge. If you make a written request, Harris will sell all of your shares at the market price determined by Harris and send to you a check for the proceeds, less brokerage sales commissions and a $5 termination charge. |
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Last updated: September 3, 1997 |