WILLIAMSBURG, Va., Feb. 10, 2015 (GLOBE NEWSWIRE) -- SoTHERLY Hotels Inc. (Nasdaq:SOHO) (the "Company") today announced the estimated income tax classification of the Company's 2014 distributions on its common shares (CUSIP #83600C103). The income tax classification of the 2014 distributions as it is expected to be reported on Form 1099-DIV is set forth in the following table:
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No portion of the dividends declared in 2014 represented foreign taxes, capital gains 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 2014. 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 common share dividend declared for shareholders of record as of December 15, 2014, and payable on January 9, 2015, will be reported on shareholders' IRS Form 1099-DIV for the 2015 tax year.
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 and upper upscale full-service hotels in the Southern United States. Currently, the Company's portfolio consists of investments in twelve hotel properties, eleven of which are wholly-owned and comprise 2,698 rooms. The Company also has a 25.0 percent interest in the Crowne Plaza Hollywood Beach Resort. Most of the Company's properties operate under the Hilton Worldwide, InterContinental Hotels Group and Starwood Hotels and Resorts brands. SoTHERLY Hotels Inc.was organized in 2004 and is headquartered in Williamsburg, Virginia. For more information, please visit www.sotherlyhotels.com.
CONTACT: at the Company: Scott Kucinski SoTHERLY Hotels Inc. 410 West Francis Street Williamsburg, Virginia 23185 (757) 229-5648
Source:Sotherly Hotels Inc.