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NASHVILLE, Tenn., Jan. 30, 2017 -- Ryman Hospitality Properties, Inc. (NYSE:RHP), a lodging real estate investment trust ("REIT") specializing in group-oriented, destination hotel assets in urban and resort markets, today announced the 2016 tax classification of the dividend distributions made to the Company’s holders of its common stock.
The income tax classification to be reported on Form 1009-DIV for the Company’s common stock, CUSIP number 78377T107, is as follows:
| Record Date | Payable Date | Total Distribution Per Share | Total Distribution Allocable to 2016 | Ordinary Taxable Dividend | Long-term Capital Gain | Nondividend Distribution (Return of Capital) | |||||
| 12/30/2015 | 1/15/2016 | $ | 0.70 | $ | 0.20 | $ | 0.19 | $ | 0.01 | $ | - |
| 3/31/2016 | 4/15/2016 | $ | 0.75 | $ | 0.75 | $ | 0.71 | $ | 0.04 | $ | - |
| 6/30/2016 | 7/15/2016 | $ | 0.75 | $ | 0.75 | $ | 0.71 | $ | 0.04 | $ | - |
| 9/30/2016 | 10/14/2016 | $ | 0.75 | $ | 0.75 | $ | 0.71 | $ | 0.04 | $ | - |
| 12/30/2016 | 1/13/2017 | $ | 0.75 | $ | 0.70 | $ | 0.66 | $ | 0.04 | $ | - |
| $ | 3.70 | $ | 3.15 | $ | 2.98 | $ | 0.17 | $ | - | ||
The 2015 fourth quarter distribution of $0.70, which had a record date of 12/30/2015, was a split-year distribution. For tax purposes, $0.50 was allocated to the 2015 Form 1099-DIV and the remaining $0.20 is being allocated to the 2016 Form 1099-DIV, as shown above.
The 2016 fourth quarter distribution of $0.75, which had a record date of 12/30/2016, will be a split-year distribution. For tax purposes, $0.70 will be allocated to the 2016 Form 1099-DIV, as shown above, and the remaining $0.05 will be allocated to the 2017 Form 1099-DIV.
The tax information provided should not be construed as tax advice. Shareholders are encouraged to consult with their tax advisors regarding their specific tax treatment.
About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc. (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of four upscale, meetings-focused resorts totaling 7,811 rooms that are managed by lodging operator Marriott International, Inc. under the Gaylord Hotels brand. Other owned assets managed by Marriott International, Inc. include Gaylord Springs Golf Links, the Wildhorse Saloon, the General Jackson Showboat, The Inn at Opryland, a 303-room overflow hotel adjacent to Gaylord Opryland and AC Hotel Washington, DC at National Harbor, a 192-room hotel near Gaylord National. The Company also owns and operates media and entertainment assets, including the Grand Ole Opry (opry.com), the legendary weekly showcase of country music’s finest performers for over 90 years; the Ryman Auditorium, the storied former home of the Grand Ole Opry located in downtown Nashville; and 650 AM WSM, the Opry’s radio home. For additional information about Ryman Hospitality Properties, visit www.rymanhp.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the future performance of our business, estimated capital expenditures. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Other factors that could cause operating and financial results to differ are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission (SEC) and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and its Quarterly Reports on Form 10-Q and subsequent filings. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
Investor Relations Contacts: Mark Fioravanti, President and Chief Financial Officer Ryman Hospitality Properties, Inc. (615) 316-6588 [email protected] ~or~ Todd Siefert, Vice President of Corporate Finance & Treasurer Ryman Hospitality Properties, Inc. (615) 316-6344 [email protected] Tax and Legal Contacts: Sidney Cherry, Vice President of Tax Ryman Hospitality Properties, Inc. (615) 316-6152 [email protected] ~or~ Scott Lynn, Senior Vice President & General Counsel Ryman Hospitality Properties (615) 316-6180 [email protected]
