UPDATE -- Sotherly Hotels Inc. Announces Dividend Tax Treatment
February 02 2017 - 2:35PM
Sotherly Hotels Inc. (NASDAQ:SOHO) (the “Company”) today announced
the estimated income tax classification of the Company’s 2016
distributions on its common shares (CUSIP #83600C103) and preferred
shares (CUSIP #83600C301). The income tax classification of the
2016 distributions as it is expected to be reported on Form
1099-DIV is set forth in the following table:
Type of |
|
|
Record |
|
|
Payment |
Per Common |
Ordinary |
Return of |
Dividend |
|
|
Date |
|
|
Date |
Share |
Dividend |
Capital |
Common |
|
|
12/15/2015 |
|
|
01/11/2016 |
|
0.080000 |
|
|
0.058836 |
|
|
0.021164 |
|
Common |
|
|
03/15/2016 |
|
|
04/11/2016 |
|
0.085000 |
|
|
0.062513 |
|
|
0.022487 |
|
Common |
|
|
06/15/2016 |
|
|
07/11/2016 |
|
0.090000 |
|
|
0.066190 |
|
|
0.023810 |
|
Common |
|
|
09/15/2016 |
|
|
10/11/2016 |
|
0.095000 |
|
|
0.069867 |
|
|
0.025133 |
|
|
|
|
|
|
|
|
|
0.350000 |
|
|
0.257406 |
|
|
0.092594 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0000 |
% |
|
73.5446 |
% |
|
26.4554 |
% |
Type of |
|
|
Record |
|
|
Payment |
Per Common |
Ordinary |
Return of |
Dividend |
|
|
Date |
|
|
Date |
Share |
Dividend |
Capital |
Preferred |
|
|
09/30/2016 |
|
|
10/17/2016 |
|
0.211111 |
|
|
0.155260 |
|
|
0.055850 |
|
Preferred |
|
|
12/30/2016 |
|
|
01/17/2017 |
|
0.500000 |
|
|
0.367723 |
|
|
0.132277 |
|
|
|
|
|
|
|
|
|
0.711111 |
|
|
0.522983 |
|
|
0.188127 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0000 |
% |
|
73.5446 |
% |
|
26.4554 |
% |
No portion of the dividends declared in 2016
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 2016. 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
common share dividend declared for shareholders of record as
of December 15, 2016, and payable on January 11, 2017,
will be reported on shareholders’ IRS Form 1099-DIV for
the 2017 tax year.
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 and
upper-upscale full-service hotels in the Southern United
States. Currently, the Company’s portfolio consists of
investments in twelve hotel properties, comprising 3,011 rooms, and
an interest in the Hyde Resort & Residences, a 400-unit 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. For more
information, please visit www.sotherlyhotels.com.
Contact at the Company:
Scott Kucinski
Sotherly Hotels Inc.
410 West Francis Street
Williamsburg, Virginia 23185
(757) 229-5648
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