Sotherly Hotels Inc. Announces Amended Dividend Tax Treatment
Sotherly Hotels (NASDAQ: SOHO) has issued an amendment to its previously released 2024 dividend tax classification for Series D preferred shares (CUSIP #83600C509). The amendment was necessary due to incorrect 'paid' and 'record' dates in the February 18, 2025 release. No portion of the dividends declared in 2024 represented foreign taxes or qualified dividend income.
Record holders will receive IRS Form 1099-DIV from Equiniti Trust Company, while shareholders with shares in 'street name' will receive IRS Form 1099 from their respective financial institutions. The tax classifications are based on preliminary results and, while subject to adjustment when filings are completed, no material changes are expected.
Sotherly Hotels (NASDAQ: SOHO) ha emesso un emendamento alla sua precedente classificazione fiscale dei dividendi per il 2024 per le azioni privilegiate di Serie D (CUSIP #83600C509). L'emendamento è stato necessario a causa di date 'pagate' e 'registrate' errate nel comunicato del 18 febbraio 2025. Nessuna parte dei dividendi dichiarati nel 2024 ha rappresentato tasse estere o reddito da dividendi qualificati.
I titolari registrati riceveranno il modulo IRS 1099-DIV da Equiniti Trust Company, mentre gli azionisti con azioni in 'nome di strada' riceveranno il modulo IRS 1099 dalle rispettive istituzioni finanziarie. Le classificazioni fiscali si basano su risultati preliminari e, sebbene siano soggette a modifiche quando le dichiarazioni saranno completate, non si prevedono cambiamenti materiali.
Sotherly Hotels (NASDAQ: SOHO) ha emitido una enmienda a su clasificación fiscal de dividendos para 2024 para las acciones preferentes de la Serie D (CUSIP #83600C509). La enmienda fue necesaria debido a fechas 'pagadas' y 'de registro' incorrectas en el comunicado del 18 de febrero de 2025. Ninguna parte de los dividendos declarados en 2024 representó impuestos extranjeros o ingresos de dividendos calificados.
Los titulares registrados recibirán el formulario IRS 1099-DIV de Equiniti Trust Company, mientras que los accionistas con acciones en 'nombre de calle' recibirán el formulario IRS 1099 de sus respectivas instituciones financieras. Las clasificaciones fiscales se basan en resultados preliminares y, aunque están sujetas a ajustes cuando se completen las presentaciones, no se esperan cambios materiales.
Sotherly Hotels (NASDAQ: SOHO)는 2024년 시리즈 D 우선주(CUSIP #83600C509)에 대한 배당세 분류의 수정안을 발표했습니다. 이 수정안은 2025년 2월 18일 발표에서 잘못된 '지급' 및 '기록' 날짜 때문입니다. 2024년에 선언된 배당금의 어떤 부분도 외국 세금이나 자격 있는 배당 소득을 나타내지 않았습니다.
기록 보유자는 Equiniti Trust Company로부터 IRS 양식 1099-DIV를 받을 것이며, '스트리트 네임'으로 주식을 보유한 주주들은 각자의 금융 기관으로부터 IRS 양식 1099를 받을 것입니다. 세금 분류는 초기 결과를 기반으로 하며, 제출이 완료되면 조정될 수 있지만, 실질적인 변경은 예상되지 않습니다.
Sotherly Hotels (NASDAQ: SOHO) a publié un amendement à sa classification fiscale des dividendes pour 2024 concernant les actions privilégiées de série D (CUSIP #83600C509). Cet amendement était nécessaire en raison de dates 'payées' et 'd'enregistrement' incorrectes dans le communiqué du 18 février 2025. Aucune partie des dividendes déclarés en 2024 ne représentait des impôts étrangers ou des revenus de dividendes qualifiés.
Les détenteurs enregistrés recevront le formulaire IRS 1099-DIV d'Equiniti Trust Company, tandis que les actionnaires détenant des actions au 'nom de rue' recevront le formulaire IRS 1099 de leurs institutions financières respectives. Les classifications fiscales sont basées sur des résultats préliminaires et, bien qu'elles soient sujettes à ajustement lors de la finalisation des déclarations, aucun changement matériel n'est attendu.
Sotherly Hotels (NASDAQ: SOHO) hat eine Änderung zu seiner zuvor veröffentlichten Steuerklassifikation der Dividenden für 2024 für die Vorzugsaktien der Serie D (CUSIP #83600C509) herausgegeben. Die Änderung war notwendig aufgrund falscher 'Zahlungs'- und 'Aufzeichnungs'-daten in der Veröffentlichung vom 18. Februar 2025. Kein Teil der Dividenden, die 2024 erklärt wurden, stellte ausländische Steuern oder qualifizierte Dividendeneinkünfte dar.
Registrierte Inhaber erhalten das IRS-Formular 1099-DIV von der Equiniti Trust Company, während Aktionäre mit Aktien im 'Straßennamen' das IRS-Formular 1099 von ihren jeweiligen Finanzinstituten erhalten. Die Steuerklassifikationen basieren auf vorläufigen Ergebnissen und, obwohl sie bei Abschluss der Einreichungen angepasst werden können, werden keine wesentlichen Änderungen erwartet.
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WILLIAMSBURG, Va., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) is amending the estimated income tax classification information of the Company’s 2024 distributions on its Series D preferred shares (CUSIP #83600C509), which was previously released on February 18, 2025, due to the inclusion of incorrect “paid” and “record” dates in the release. The changes apply to only the Series D preferred shares portion of the release. The income tax classification of the 2024 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 | ||||
| 02/29/2024 | 03/15/2024 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| 05/31/2024 | 06/17/2024 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| 08/30/2024 | 09/16/2024 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| 11/29/2024 | 12/16/2024 | 0.500000 | 0.500000 | 0.000000 | 0.500000 | ||||
| TOTAL | 2.000000 | 2.000000 | 0.000000 | 2.000000 | |||||
| Percent | |||||||||
| 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 | ||||
| 02/29/2024 | 03/15/2024 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| 05/31/2024 | 06/17/2024 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| 08/30/2024 | 09/16/2024 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| 11/29/2024 | 12/16/2024 | 0.492188 | 0.492188 | 0.000000 | 0.492188 | ||||
| TOTAL | 1.968752 | 1.968752 | 0.000000 | 1.968752 | |||||
| Percent | |||||||||
| 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 | ||||
| 02/29/2024 | 03/15/2024 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| 05/31/2024 | 06/17/2024 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| 08/30/2024 | 09/16/2024 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| 11/29/2024 | 12/16/2024 | 0.515625 | 0.515625 | 0.000000 | 0.515625 | ||||
| TOTAL | 2.062500 | 2.062500 | 0.000000 | 2.062500 | |||||
| Percent | |||||||||
The CUSIP number for Sotherly Hotels Inc.'s Series D Preferred Shares is 83600C509.
No portion of the dividends declared in 2024 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 (formerly, American Stock Transfer & Trust Company), the Company’s dividend paying agent. The Form 1099-DIV will report the dividends paid with respect to 2024. 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 twelve hotel properties, comprising 2,786 rooms, as well as interests in two condominium hotels and their associated rental programs. The Company owns hotels that operate under the Hilton Worldwide, Marriott International, Inc., and Hyatt Hotels Corporation brands, as well as independent hotels. Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia. For more information, please visit www.sotherlyhotels.com.
FAQ
What changes were made to Sotherly Hotels' (SOHO) 2024 dividend tax classification?
Do SOHO's 2024 dividends include any foreign taxes or qualified dividend income?
How will SOHO shareholders receive their tax information for 2024 dividends?
Are the 2024 tax classifications for SOHO dividends final?
