Questions? +1 (202) 540-8337 Login
Trusted News Since 1995
A service for travel industry professionals · Tuesday, September 18, 2018 · 462,371,096 Articles · 3+ Million Readers

Sotherly Hotels Inc. Announces Dividend Tax Treatment

WILLIAMSBURG, Va., Feb. 14, 2018 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ:SOHO) (the “Company”) today announced the estimated income tax classification of the Company’s 2017 distributions on its common shares (CUSIP #83600C103), Series B preferred shares (CUSIP #83600C301) and Series C preferred shares (CUSIP #83600C400). The income tax classification of the 2017 distributions as it is expected to be reported on Form 1099-DIV is set forth in the following table:

Type of Record Payment Distribution Ordinary Return of
Dividend Date Date Per Share Income Capital
Common 12/15/2016 1/11/2017   0.095000    0.019077    0.075923  
Common 3/15/2017 4/11/2017   0.100000    0.020081    0.079919  
Common 6/15/2017 7/11/2017   0.105000    0.021085    0.083915  
Common 9/15/2017 10/11/2017   0.110000    0.022089    0.087911  
Common 12/15/2017 1/11/2018   0.110000    0.022089    0.087911  
       0.520000    0.104421    0.415579  
           
      100.000000 % 20.080645 % 79.919355 %
           
Type of Record Payment Distribution Ordinary Return of
Dividend Date Date Per Share Income Capital
Preferred 3/31/2017 4/17/2017   0.500000    0.100403    0.399597  
Preferred 6/30/2017 7/17/2017   0.500000    0.100403    0.399597  
Preferred 9/29/2017 10/16/2017   0.500000    0.100403    0.399597  
Preferred 12/29/2017 1/16/2018   0.500000    0.100403    0.399597  
      2.000000   0.401612   1.598388  
           
      100.000000 % 20.080645 % 79.919355 %
           
Type of Record Payment Distribution Ordinary Return of
Dividend Date Date Per Share Income Capital
Preferred 12/29/2017 1/16/2018   0.432030    0.086754    0.345276  
      0.432030   0.086754   0.345276  
           
      100.000000 % 20.080645 % 79.919355 %

No portion of the dividends declared in 2017 represented foreign taxes or qualified dividend income. Record holders of the Company’s common shares who received any of the dividends specified in the table above will receive an Internal Revenue Service (IRS) Form 1099-DIV from American Stock Transfer & Trust Company, the Company’s dividend paying agent. The Form 1099-DIV will report the dividends paid with respect to 2017. Shareholders whose shares are held in “street name” will receive an IRS Form 1099 from the bank, brokerage firm or other nominee holding their shares.

The information in the table above is based on the preliminary results of work on the tax filings of the Company and is subject to correction or adjustment when the filings are completed. No material change in these classifications is expected. The tax information above should not be construed as tax advice and is not a substitute for careful tax planning and analysis. Shareholders are encouraged to consult with their own tax advisors regarding the specific federal, state, local, foreign and other tax consequences of ownership of the common shares of Sotherly Hotels Inc. and the specific tax treatment of distributions therefrom.

About Sotherly Hotels Inc.

Sotherly Hotels Inc. is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Currently, the Company’s portfolio consists of investments in eleven hotel properties, comprising 2,838 rooms, and an interest in the Hyde Resort & Residences, a luxury condo hotel. Most of the Company’s properties operate under the Hilton Worldwide, InterContinental Hotels Group and Marriott International, Inc. brands. Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia.

Contact at the Company:        
Scott Kucinski
Sotherly Hotels Inc.
410 West Francis Street
Williamsburg, Virginia 23185 
(757) 229-5648

/EIN News/ --

Primary Logo

Powered by EIN News