Hersha Hospitality Trust Announces Dividend Classification for 2017
January 22 2018 - 4:30PM
Hersha Hospitality Trust (NYSE:HT); (“Hersha” or “the Company”),
owner of high quality upscale hotels in urban gateway markets and
coastal destinations, today announced the tax classification of its
Priority Class A Common Share (“Common Shares”), Series C
Cumulative Redeemable Preferred Share (“Series C Preferred
Shares”), Series D Cumulative Redeemable Preferred Share (“Series D
Preferred Shares”) and Series E Cumulative Redeemable Preferred
Share (“Series E Preferred Shares”) distributions for 2017 for
Federal income tax reporting purposes. The tax information
provided below should not be construed as tax advice and is not a
substitute for careful tax planning and analysis.
Shareholders should consult their tax advisors as to the tax
treatment of the distributions.
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COMMON
SHARES |
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Record Dates |
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Paid Dates |
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Total Cash Distribution Per Share |
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Taxable Ordinary Income* |
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Total Capital GainDistribution |
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Unrecaptured Sec. 1250 Gain |
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NontaxableDistribution (Return of Capital)** |
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1/5/2017 |
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1/17/2017 |
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$ |
0.4800 |
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$ |
0.340569 |
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$ |
- |
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$ |
- |
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$ |
0.139431 |
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3/31/2017 |
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4/17/2017 |
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$ |
0.2800 |
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$ |
0.198665 |
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$ |
- |
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$ |
- |
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$ |
0.081335 |
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6/30/2017 |
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7/17/2017 |
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$ |
0.2800 |
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$ |
0.198665 |
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$ |
- |
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$ |
- |
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$ |
0.081335 |
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9/29/2017 |
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10/13/2017 |
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$ |
0.2800 |
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$ |
0.198665 |
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$ |
- |
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$ |
- |
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$ |
0.081335 |
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TOTAL |
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$ |
1.3200 |
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$ |
0.936564 |
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$ |
- |
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$ |
- |
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$ |
0.383436 |
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Percent |
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100.00% |
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70.95% |
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N/A |
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N/A |
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29.05% |
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The CUSIP number for Hersha Hospitality Trust's Common Shares
is 427825500. |
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SERIES C
PREFERRED SHARES |
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Record Dates |
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Paid Dates |
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Total Cash Distribution Per Share |
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Taxable Ordinary Income* |
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Total Capital GainDistribution |
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Unrecaptured Sec. 1250 Gain |
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NontaxableDistribution (Return of Capital) |
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1/1/2017 |
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1/17/2017 |
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$ |
0.4297 |
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$ |
0.4297 |
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$ |
- |
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$ |
- |
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$ |
- |
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4/1/2017 |
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4/17/2017 |
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$ |
0.4297 |
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$ |
0.4297 |
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$ |
- |
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$ |
- |
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$ |
- |
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7/1/2017 |
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7/17/2017 |
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$ |
0.4297 |
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$ |
0.4297 |
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$ |
- |
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$ |
- |
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$ |
- |
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10/1/2017 |
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10/16/2017 |
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$ |
0.4297 |
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$ |
0.4297 |
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$ |
- |
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$ |
- |
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$ |
- |
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TOTAL |
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$ |
1.7188 |
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$ |
1.7188 |
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$ |
- |
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$ |
- |
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$ |
- |
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Percent |
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100.00% |
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100.00% |
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N/A |
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N/A |
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N/A |
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The CUSIP
number for Hersha Hospitality Trust's Series C Preferred Shares is
427825401 |
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SERIES D
PREFERRED SHARES |
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Record Dates |
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Paid Dates |
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Total Cash Distribution Per Share |
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Taxable Ordinary Income* |
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Total Capital GainDistribution |
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Unrecaptured Sec. 1250 Gain |
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NontaxableDistribution (Return of Capital) |
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1/1/2017 |
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1/17/2017 |
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$ |
0.4063 |
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$ |
0.4063 |
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$ |
- |
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$ |
- |
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$ |
- |
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4/1/2017 |
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4/17/2017 |
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$ |
0.4063 |
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$ |
0.4063 |
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7/1/2017 |
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7/17/2017 |
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$ |
0.4063 |
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$ |
0.4063 |
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10/1/2017 |
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10/16/2017 |
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$ |
0.4063 |
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$ |
0.4063 |
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$ |
- |
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$ |
- |
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$ |
- |
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TOTAL |
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$ |
1.6250 |
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$ |
1.6250 |
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$ |
- |
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$ |
- |
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$ |
- |
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Percent |
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100.00% |
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100.00% |
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N/A |
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N/A |
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N/A |
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The CUSIP
number for Hersha Hospitality Trust's Series D Preferred Shares is
427825609 |
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SERIES E
PREFERRED SHARES |
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Record Dates |
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Paid Dates |
|
Total Cash Distribution Per Share |
|
Taxable Ordinary Income* |
|
Total Capital GainDistribution |
|
Unrecaptured Sec. 1250 Gain |
|
NontaxableDistribution (Return of Capital) |
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1/1/2017 |
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1/17/2017 |
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$ |
0.3069 |
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$ |
0.3069 |
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$ |
- |
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$ |
- |
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$ |
- |
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4/1/2017 |
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4/17/2017 |
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$ |
0.4063 |
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$ |
0.4063 |
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7/1/2017 |
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7/17/2017 |
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$ |
0.4063 |
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$ |
0.4063 |
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10/1/2017 |
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10/16/2017 |
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$ |
0.4063 |
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$ |
0.4063 |
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$ |
- |
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$ |
- |
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$ |
- |
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TOTAL |
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$ |
1.5257 |
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$ |
1.5257 |
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$ |
- |
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$ |
- |
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$ |
- |
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Percent |
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100.00% |
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100.00% |
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N/A |
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N/A |
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N/A |
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The CUSIP
number for Hersha Hospitality Trust's Series E Preferred Shares is
427825708 |
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*
For Federal income tax reporting purposes, a portion (10.8666%) of
Hersha Hospitality Trust's ordinary income dividends are treated as
qualified dividend income. |
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** Distributions will reduce a shareholder's adjusted
tax basis in its shares. Any amount of the distribution that
exceeds a shareholder's adjusted tax basis in its shares will be
treated as gain from the sale or exchange of property. |
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Shareholders of Common Shares should note that the 2017 fourth
quarter distribution, which had a record date of January 5, 2018
and was paid on January 16, 2018, will be reported and the taxable
portion determined in 2018.
Shareholders of Series C, Series D and Series E
Preferred Shares should note that the 2017 fourth quarter
distribution, which had a record date of January 1, 2018 and was
paid on January 16, 2018, will be reported and the taxable portion
determined in 2018.
Hersha Hospitality Trust
(HT) is a self-advised real estate investment
trust in the hospitality sector, which owns and operates high
quality upscale hotels in urban gateway markets and coastal
destinations. The Company’s 50 hotels totaling 7,724 rooms are
located in New York, Washington, DC, Boston, Philadelphia, South
Florida and select markets on the West Coast. The Company’s common
shares are traded on The New York Stock Exchange-Euronext under the
ticker “HT”. For more information on the Company, and the
Company’s hotel portfolio, please visit the Company’s website at
www.hersha.com. Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, and, as such, may involve known and unknown
risks, uncertainties and other factors that may cause the actual
results or performance to differ from those reflected in the
forward-looking statement.
For a description of these factors, please
review the information under the heading “Risk Factors” included in
Hersha Hospitality Trust’s filings with the U.S. Securities and
Exchange Commission Annual Report on Form 10-K for the year ended
December 31, 2016 and subsequent reports filed by the Company with
the Securities and Exchange Commission from time to time.
Contact: Michael Gillespie, Chief Accounting OfficerPhone:
(717) 236-4400
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