Park Hotels & Resorts Announces Tax Treatment of 2020 Dividends

Rhea-AI Summary

Park Hotels & Resorts Inc. (NYSE: PK) announced the 2020 tax reporting for cash distributions on its Common Stock, totaling $0.45 per share, paid on April 15, 2020. Due to COVID-19 impacts, distributions were suspended for the remainder of the year. The dividends breakdown includes $0.244571 as total ordinary dividends, $0.005000 as qualified dividends, and $0.205429 as total capital gain distribution. For record-keeping, the record date was March 31, 2020.

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• None.

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• Suspended cash distributions for the remainder of 2020 due to COVID-19 impacts.

TYSONS, Va., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (NYSE: PK) (the “Company”) today announced the tax reporting information for its 2020 cash distributions on its Common Stock.

The distributions, totaling $0.45 per share, were paid on April 15, 2020. Due to the financial impacts from the COVID-19 pandemic, Park suspended distributions on its Common Stock for the remainder of the year.

For income tax purposes, the dividends for 2020, totaling $0.45 per share, are classified as $0.244571 (54.349187%) Total ordinary dividends, $0.005000 (1.111105%) Qualified dividends, and $0.205429 (45.650813%) Total capital gain distribution. The Total ordinary dividends include Section 199A dividends of $0.239571 (53.238082%).

The following table summarizes the income tax treatment of the Company's 2020 dividend:

2020 Dividend Tax Reporting Information (Form 1099-DIV)

Park Hotels & Resorts Inc. Common Stock: PK CUSIP: 700517 105

Record Date	Payable Date	Dividend per Share		Total ordinary dividends (box 1a)		Qualified dividends (box 1b)		Total capital gain distr. (box 2a)		Section 199A dividends (box 5)
March 31, 2020	April 15, 2020	$0.45		$0.244571		$0.005000		$0.205429		$0.239571

About Park Hotels & Resorts
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more information.

For more information, contact:
Ian Weissman
Senior Vice President, Corporate Strategy
571-302-5591
iweissman@pkhotelsandresorts.com

FAQ

What was the total dividend per share for Park Hotels & Resorts in 2020?

The total dividend per share for 2020 was $0.45.

When was the dividend paid for Park Hotels & Resorts in 2020?

The dividend was paid on April 15, 2020.

What were the tax classifications of the dividends for Park Hotels & Resorts in 2020?

The dividends included $0.244571 as ordinary dividends, $0.005000 as qualified dividends, and $0.205429 as capital gain distribution.

Why did Park Hotels & Resorts suspend its cash distributions in 2020?

The suspension was due to the financial impacts resulting from the COVID-19 pandemic.

What was the record date for the dividend payment in 2020 for Park Hotels & Resorts?

The record date was March 31, 2020.