Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
WILLIAMSBURG, Va., Feb. 14, 2018 -- 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 Street
Williamsburg, Virginia 23185
(757) 229-5648
