Business & Finance
Business and Finance
Business and Finance
Wed, January 21, 2009
Tue, January 20, 2009 Hersha Hospitality Trust Announces Dividend Tax Allocation for 2008
PHILADELPHIA--([ BUSINESS WIRE ])--Hersha Hospitality Trust (NYSE: HT), owner of nationally franchised premium full service and limited service hotels, announced the tax allocations on its Priority Class A Common Share ("Common Shares") and Series A Cumulative Redeemable Preferred Share ("Series A Preferred Shares") dividends for 2008 for Federal income tax reporting purposes. The tax information provided below should not be construed as tax advice and is not a substitute for careful tax planning and analysis. Shareholders should consult their own tax advisors as to the tax treatment of the dividends.
COMMON SHARES | |||||||||||||||||||||
Record Dates | Paid Dates | Total Cash Distribution Per Share | Taxable Ordinary Income * | Total Capital Gain Distribution | Unrecaptured Sec. 1250 Gain** | Nontaxable Distribution (Return of Capital) | |||||||||||||||
| 1/5/2008 | 1/16/2008 | $ | 0.180 | $ | 0.080299 | 0.012577 | $ | 0.001660 | $ | 0.087124 | |||||||||||
| 3/31/2008 | 4/16/2008 | $ | 0.180 | $ | 0.080299 | $ | 0.012577 | $ | 0.001660 | $ | 0.087124 | ||||||||||
| 6/30/2008 | 7/16/2008 | $ | 0.180 | $ | 0.080299 | $ | 0.012577 | $ | 0.001660 | $ | 0.087124 | ||||||||||
| 9/30/2008 | 10/16/2008 | $ | 0.180 | $ | 0.080299 | $ | 0.012577 | $ | 0.001660 | $ | 0.087124 | ||||||||||
| TOTAL | $ | 0.720 | $ | 0.321196 | $ | 0.050308 | $ | 0.006640 | $ | 0.348496 | |||||||||||
| Percent | 100.00 | % | 44.61 | % | 6.99 | % | N/A | 48.40 | % | ||||||||||||
| The CUSIP number for Hersha Hospitality Trust's Common Shares is 427825104. | |||||||||||||||||||||
SERIES A PREFERRED SHARES | |||||||||||||||||||||
Record Dates | Paid Dates | Total Cash Distribution Per Share | Taxable Ordinary Income * | Total Capital Gain Distribution | Unrecaptured Sec. 1250 Gain** | Nontaxable Distribution (Return of Capital) | |||||||||||||||
| 1/1/2008 | 1/15/2008 | $ | 0.500 | $ | 0.432293 | $ | 0.067707 | $ | 0.008940 | $ | - | ||||||||||
| 4/1/2008 | 4/15/2008 | $ | 0.500 | $ | 0.432293 | $ | 0.067707 | $ | 0.008940 | $ | - | ||||||||||
| 7/1/2008 | 7/15/2008 | $ | 0.500 | $ | 0.432293 | $ | 0.067707 | $ | 0.008940 | $ | - | ||||||||||
| 10/1/2008 | 10/15/2008 | $ | 0.500 | $ | 0.432293 | $ | 0.067707 | $ | 0.008940 | $ | - | ||||||||||
| TOTAL | $ | 2.000 | $ | 1.729172 | $ | 0.270828 | $ | 0.035760 | $ | - | |||||||||||
| Percent | 100.00 | % | 86.46 | % | 13.54 | % | N/A | N/A | |||||||||||||
| The CUSIP number for Hersha Hospitality Trust's Series A Preferred Shares is 427825203. | |||||||||||||||||||||
| * For Federal income tax reporting purposes, none of Hersha Hospitality Trust's ordinary income dividends are treated as qualified dividend income. | |||||||||||||||||||||
| ** Unrecaptured Section 1250 Gain is included in Total Capital Gain Distribution. | |||||||||||||||||||||
Shareholders of Common Shares should note that the 2008 fourth quarter distribution, which had a record date of January 5, 2009 and was paid on January 16, 2009, will be reported and the taxable portion determined in 2009.
Shareholders of Series A Preferred Shares should note that the 2008 fourth quarter distribution, which had a record date of January 1, 2009 and was paid on January 15, 2009, will be reported and the taxable portion determined in 2009.
About Hersha Hospitality
Hersha Hospitality Trust is a self-advised real estate investment trust, which owns interests in 76 hotels, primarily along the Northeast Corridor from Boston to Washington DC. The Company also owns hotels in Northern California and Scottsdale, Arizona. Hersha focuses on high quality upscale hotels in high barrier to entry markets. More information on the Company is available on Hersha's web site at [ www.hersha.com ].
Forward Looking Statement
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. For a description of these factors, please review the information under the heading "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2007, and our Quarterly Report on Form 10-Q for the period ended September 30, 2008, each filed with the U.S. Securities and Exchange Commission.
