CORRECTING and REPLACING Chesapeake Lodging Trust Announces 2017 Dividend Income Tax Treatment
January 29 2018 - 4:14PM
Business Wire
Tables of release dated January 24, 2018 have been revised for
the Total Ordinary Dividends amounts to include the Qualified
Dividends amounts.
The corrected release reads:
CHESAPEAKE LODGING TRUST ANNOUNCES 2017
DIVIDEND INCOME TAX TREATMENT
Chesapeake Lodging Trust (NYSE:CHSP) (the “Trust”) announced
today the estimated income tax classification of the Trust’s 2017
distributions on its common shares (CUSIP #165240102) and preferred
shares (CUSIP #165240201). 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 tables:
COMMON SHARES(1):
Total Cash Total Total Unrecaptured Record Payment
Distribution Ordinary Qualified Capital Gain Section 1250 Return of
Date Date Per Share Dividends
Dividends(2)
Distribution
Gain(3)
Capital 12/30/2016 01/13/2017 $0.400000 $0.321093
$0.010394 $0.022294 $0.020457 $0.056613 03/31/2017 04/14/2017
0.400000 0.321093 0.010394 0.022294 0.020457 0.056613 06/30/2017
07/14/2017 0.400000 0.321093 0.010394 0.022294 0.020457 0.056613
09/29/2017 10/13/2017
0.400000 0.321093
0.010394 0.022294 0.020457
0.056613 $1.600000 $1.284372
$0.041576 $0.089176
$0.081828 $0.226452
PREFERRED SHARES(4):
Total Cash Total
Total Unrecaptured Record Payment Distribution Ordinary Qualified
Capital Gain Section 1250 Return of Date Date Per
Share Dividends
Dividends(2)
Distribution
Gain(3)
Capital 03/31/2017 04/14/2017 $0.484375 $0.452927
$0.014661 $0.031448 $0.028856 $0.000000 06/30/2017 07/14/2017
0.484375 0.452927 0.014661 0.031448 0.028856 0.000000 – 07/17/2017
0.010764 0.010065 0.000326
0.000699 0.000641 0.000000
$0.979514 $0.915919
$0.029648 $0.063595
$0.058353 $0.000000 _______________ (1)
Common shareholders should note that the fourth quarter 2017
distribution, which had a record date of December 29, 2017 and was
paid on January 12, 2018, will be reported on the 2018 Form
1099-DIV to be provided to shareholders in January 2019. (2)
Qualified Dividends is a subset of, and included in, the Total
Ordinary Dividends amount. (3) Unrecaptured Section 1250 Gain is a
subset of, and included in, the Total Capital Gain Distribution
amount. (4) On July 17, 2017, the Trust redeemed all 5,000,000
shares of its issued and outstanding 7.75% Series A Cumulative
Redeemable Preferred Shares at a redemption amount of $25.00 per
share, plus an amount equal to all accrued and unpaid dividends to,
but not including, the redemption date.
This release is based on the preliminary results of work on the
Trust’s tax filings and is subject to correction or adjustment when
the filings are completed. The Trust is releasing information at
this time to aid those required to distribute Forms 1099 on the
Trust’s distributions. No material change in these classifications
is expected. Shareholders are encouraged to consult with their own
tax advisors as to the specific tax treatment to them of the
Trust’s distributions.
ABOUT CHESAPEAKE LODGING TRUST
Chesapeake Lodging Trust is a self-advised lodging real estate
investment trust (REIT) focused on investments primarily in
upper-upscale hotels in major business and convention markets and,
on a selective basis, premium select-service hotels in urban
settings or unique locations in the United States. The Trust owns
21 hotels with an aggregate of 6,479 rooms in eight states and the
District of Columbia. Additional information can be found on the
Trust’s website at www.chesapeakelodgingtrust.com.
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Chesapeake Lodging TrustDouglas W. Vicari, 571-349-9452
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