Sotherly Hotels Inc. Announces Dividend Tax Treatment
February 14 2018 - 11:16AM
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
StreetWilliamsburg, Virginia 23185 (757) 229-5648
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