Chatham Lodging Trust Announces 2022 Distribution Characterization

Rhea-AI Summary

Chatham Lodging Trust (NYSE: CLDT), a lodging REIT focused on upscale extended-stay and select-service hotels, has announced the tax characterization of dividends declared in 2022 for federal income tax reporting. The dividends include $0.41406 per share for Series A Preferred shares paid quarterly and $0.07000 per share for common stock. The record dates for the dividends were on 3/31/22, 6/30/22, 9/30/22, and 12/30/22, with payment dates following on 4/18/22, 7/15/22, 10/17/22, and 1/17/23. No portion of these dividends represented foreign taxes or qualified dividend income. Shareholders will receive IRS Form 1099-DIV for tax reporting.

Positive

• Declared $0.41406 per share quarterly dividends on Series A Preferred shares.
• Announced $0.07000 per share dividend on Common stock.
• No portion of the dividends declared represented foreign taxes.

Negative

• None.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)-- Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale extended-stay hotels and premium-branded, select-service hotels, today announced the characterization of dividends declared in 2022 on its common and preferred shares for federal income tax reporting purposes.

Security Description	CUSIP	Ticker Symbol	Record Date	Payment Date	Dividend Per Share	Taxable Ordinary Income(1)	Return of Capital(2)	Section 199A Dividends(3)
Series A Preferred	16208T201	CLDT-PA	3/31/22	4/18/22	$0.41406	$0.41406	$0.00000	$0.41406
Series A Preferred	16208T201	CLDT-PA	6/30/22	7/15/22	$0.41406	$0.41406	$0.00000	$0.41406
Series A Preferred	16208T201	CLDT-PA	9/30/22	10/17/22	$0.41406	$0.41406	$0.00000	$0.41406
Series A Preferred	16208T201	CLDT-PA	12/30/22	1/17/23	$0.41406	$0.41406	$0.00000	$0.41406
Common Stock	16208T102	CLDT	12/30/22	1/17/23	$0.07000	$0.07000	$0.00000	$0.07000
(1) Form 1099-Div box 1a
(2) Form 1099-Div box 3
(3) Form 1099-Div box 5

No portion of the dividends declared in 2022 represented foreign taxes or qualified dividend income.

Registered holders of Chatham Lodging Trust common or preferred shares who received any of the dividends specified in the table above will receive an Internal Revenue Service (IRS) Form 1099-DIV from EQ Shareholder Services, the company’s dividend paying agent. The Form 1099-DIV will report the dividends paid with respect to 2022. 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 Chatham Lodging Trust 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 Chatham Lodging Trust’s shares and the specific tax treatment of distributions on Chatham Lodging Trust’s shares.

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 39 hotels totaling 5,914 rooms/suites in 16 states and the District of Columbia. Additional information about Chatham may be found at chathamlodgingtrust.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 about Chatham Lodging Trust, including statements regarding future plans, strategies, performance, acquisitions, capital expenditures, future operating results and the timing and composition of revenues, among others, and statements containing words such as “expects,” “believes” or “will,” which indicate that those statements are forward-looking. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results or performance to differ materially from those discussed in such statements. Additional risks are discussed in the company’s filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005310/en/

Dennis Craven (Company)

Chief Operating Officer

(561) 227-1386

Source: Chatham Lodging Trust

FAQ

What was the dividend per share declared by Chatham Lodging Trust (CLDT) in 2022?

Chatham Lodging Trust declared dividends of $0.41406 per share for Series A Preferred shares and $0.07000 per share for Common stock.

What were the record dates for the 2022 dividends of CLDT?

The record dates for the CLDT dividends were 3/31/22, 6/30/22, 9/30/22, and 12/30/22.

When were the dividends for CLDT paid?

The dividends for CLDT were paid on 4/18/22, 7/15/22, 10/17/22, and 1/17/23.

Did the dividends declared by CLDT in 2022 include qualified dividend income?

No, none of the dividends declared in 2022 represented foreign taxes or qualified dividend income.

Will CLDT shareholders receive tax forms for the dividends?

Yes, shareholders will receive IRS Form 1099-DIV to report the 2022 dividends.