Sotherly Hotels Inc. Announces Dividend Tax Treatment
WILLIAMSBURG, Va., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the "Company") today announced the estimated income tax classification of the Company's 2023 distributions on its Series B preferred shares (CUSIP #83600C301), Series C preferred shares (CUSIP #83600C400), and Series D preferred shares (CUSIP #83600C509). The income tax classification of the 2023 distributions as it is expected to be reported on Form 1099-DIV is set forth in the following table:
| SERIES B PREFERRED SHARES | |||||||||
| Total | Taxable | Nontaxable | |||||||
| Record | Paid | Cash Distribution | Ordinary | Distribution | Sec 199A | ||||
| Date | Date | Per Share | Income | (Return of Capital) | Dividends | ||||
| 02/28/2023 | 03/15/2023 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| 05/31/2023 | 06/15/2023 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| 06/30/2023 | 07/14/2023 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| 08/31/2023 | 09/15/2023 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| 11/30/2023 | 12/15/2023 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| TOTAL | 2.500000 | 2.500000 | 0.000000 | 2.500000 | |||||
| Percent | 100.0000% | 100.0000% | 0.0000% | 100.0000% | |||||
| The CUSIP number for Sotherly Hotels Inc.'s Series B Preferred Shares is 83600C301. | |||||||||
| SERIES C PREFERRED SHARES | |||||||||
| Total | Taxable | Nontaxable | |||||||
| Record | Paid | Cash Distribution | Ordinary | Distribution | Sec 199A | ||||
| Date | Date | Per Share | Income | (Return of Capital) | Dividends | ||||
| 02/28/2023 | 03/15/2023 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| 05/31/2023 | 06/15/2023 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| 06/30/2023 | 07/14/2023 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| 08/31/2023 | 09/15/2023 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| 11/30/2023 | 12/15/2023 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| TOTAL | 2.460940 | 2.460940 | 0.000000 | 2.460940 | |||||
| Percent | 100.0000% | 100.0000% | 0.0000% | 100.0000% | |||||
| The CUSIP number for Sotherly Hotels Inc.'s Series C Preferred Shares is 83600C400. | |||||||||
| SERIES D PREFERRED SHARES | |||||||||
| Total | Taxable | Nontaxable | |||||||
| Record | Paid | Cash Distribution | Ordinary | Distribution | Sec 199A | ||||
| Date | Date | Per Share | Income | (Return of Capital) | Dividends | ||||
| 02/28/2023 | 03/15/2023 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| 05/31/2023 | 06/15/2023 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| 06/30/2023 | 07/14/2023 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| 08/31/2023 | 09/15/2023 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| 11/30/2023 | 12/15/2023 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| TOTAL | 2.578125 | 2.578125 | 0.000000 | 2.578125 | |||||
| Percent | 100.0000% | 100.0000% | 0.0000% | 100.0000% | |||||
The CUSIP number for Sotherly Hotels Inc.'s Series D Preferred Shares is 83600C509.
No portion of the dividends declared in 2023 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 Equiniti Trust Company, LLC, the Company's dividend paying agent. The Form 1099-DIV will report the dividends paid with respect to 2023. 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.
