Company: EPR-PE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001045450-25-000120
Chunk: 34

Company: EPR PROPERTIES
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 and interest. The Company filed a lawsuit and demanded a refund of $5.9 million payment during the year ended December 31, 2024, and the lawsuit is ongoing. The Company and the City have reached an agreement, which is favorable to the Company, regarding the application of alternative methodology for apportionment of taxes for periods beginning 2024. However, the Company has requested but not yet resolved 

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retroactive application of tax apportionment methodology for periods prior to 2024. Nonetheless, to be consistent with the agreed forward apportionment treatment, the Company recognized $0.1 million of expense related to prior periods and, accordingly, reduced the receivable related to the assessment to $5.8 million during the quarter ended June 30, 2025. Additionally, during the quarter ended June 30, 2025, the Company received from the City a notice related to the Company’s 2023 tax period, assessing an additional $0.9 million of tax, penalties and interest on the same basis as the protested 2018-2022 assessment. The Company's formal protest against the 2023 assessment did not require the payment of any amounts. Although there can be no assurances, based on the Company's position in the 2018-2022 lawsuit and 2023 formal protest, the Company believes that it is more likely than not that the 2018 to 2022 payment will be refunded and that the 2023 assessment will be resolved favorably. 

7. Capital Markets and Dividends

During the three and six months ended June 30, 2025, the Company declared cash dividends totaling $0.885 and $1.750 per common share. Additionally, during the three and six months ended June 30, 2025, the Company declared cash dividends of $0.359375 and $0.71875 per share, on each of the Company's 5.75% Series C cumulative convertible preferred shares and the Company's 5.75% Series G cumulative redeemable preferred shares, and cash dividends of $0.5625 and $1.125 per share, on the Company's 9.00% Series E cumulative convertible preferred shares.

Upon maturity, on April 1, 2025, the Company fully repaid $300.0 million of senior unsecured notes using borrowings under its $1.0 billion senior unsecured revolving credit facility. On June 3