DALLAS, Jan. 26,
2023 /PRNewswire/ -- Braemar Hotels & Resorts
Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced the
tax reporting (Federal Form 1099-DIV) information for the 2022
distributions on its common shares and its Series B, D, E and M
preferred shares.
The amounts below represent the income tax treatment applicable
to each distribution that is reportable in 2022. The preferred
distributions that the Company paid on January 18, 2022 to stockholders of record as of
December 31, 2021 are reportable in
2022. The common and preferred distributions that the Company paid
on January 17, 2023 to stockholders
of record as of December 30, 2022
will be reportable in 2023.
The income tax treatment for 2022 for Braemar Hotels and Resorts
Inc. Common Stock CUSIP #10482B101 traded on the NYSE under ticker
symbol "BHR" is as follows:
Distribution
Type
|
|
Distributions
Per Share
|
Ordinary
Taxable
Dividend
|
Section 199A
Dividend
|
Capital Gain
Distribution
|
Return of
Capital
|
Total Cash Per
Share
|
$0.0300000
|
$0.0300000
|
$0.0300000
|
$0.0000000
|
$0.0000000
|
Percent
|
100 %
|
100 %
|
100 %
|
0 %
|
0 %
|
The income tax treatment for the 2022 distributions for Braemar
Hotels and Resorts Inc. Series B Cumulative Convertible Preferred
Stock CUSIP #10482B200 traded on the NYSE under ticker symbol
"BHRPrB" is as follows:
Distribution
Type
|
|
Distributions
Per Share
|
Ordinary
Taxable
Dividend
|
Section 199A
Dividend
|
Capital Gain
Distribution
|
Return of
Capital
|
Total Cash Per
Share
|
$1.3752000
|
$1.3752000
|
$1.3752000
|
$0.0000000
|
$0.0000000
|
Percent
|
100 %
|
100 %
|
100 %
|
0 %
|
0 %
|
The income tax treatment for the 2022 distributions for Braemar
Hotels and Resorts Inc. Series D Cumulative Preferred Stock CUSIP
#104823B09 traded on the NYSE under ticker symbol "BHRPrD" is as
follows:
Distribution
Type
|
|
Distributions
Per Share
|
Ordinary
Taxable
Dividend
|
Section 199A
Dividend
|
Capital Gain
Distribution
|
Return of
Capital
|
Total Cash Per
Share
|
$2.0624000
|
$2.0624000
|
$2.0624000
|
$0.0000000
|
$0.0000000
|
Percent
|
100 %
|
100 %
|
100 %
|
0 %
|
0 %
|
The income tax treatment for the 2022 distributions for Braemar
Hotels and Resorts Inc. Series E Redeemable Preferred Stock (CUSIPs
#10482B606, 10482B804, 10482B812, 10482B879, 10482B788 and
10482B853) is as follows:
Distribution
Type
|
|
Distributions
Per Share
|
Ordinary
Taxable
Dividend
|
Section 199A
Dividend
|
Capital Gain
Distribution
|
Return of
Capital
|
Total Cash Per
Share
|
$1.9732000
|
$1.9732000
|
$1.9732000
|
$0.0000000
|
$0.0000000
|
Percent
|
100 %
|
100 %
|
100 %
|
0 %
|
0 %
|
Distributions Per Share reflects the annual rate per share for
distributions reportable in 2022.
The income tax treatment for the 2022 distributions for Braemar
Hotels and Resorts Inc. Series M Redeemable Preferred Stock (CUSIP
#10482B705) is as follows:
Distribution
Type
|
|
Distributions
Per Share
|
Ordinary
Taxable
Dividend
|
Section 199A
Dividend
|
Capital Gain
Distribution
|
Return of
Capital
|
Total Cash Per
Share
|
$2.0601000
|
$2.0601000
|
$2.0601000
|
$0.0000000
|
$0.0000000
|
Percent
|
100 %
|
100 %
|
100 %
|
0 %
|
0 %
|
The income tax treatment for the 2022 distributions for Braemar
Hotels and Resorts Inc. Series M Redeemable Preferred Stock (CUSIP
#10482B887) is as follows:
Distribution
Type
|
|
Distributions
Per Share
|
Ordinary
Taxable
Dividend
|
Section 199A
Dividend
|
Capital Gain
Distribution
|
Return of
Capital
|
Total Cash Per
Share
|
$2.0538000
|
$2.0538000
|
$2.0538000
|
$0.0000000
|
$0.0000000
|
Percent
|
100 %
|
100 %
|
100 %
|
0 %
|
0 %
|
The income tax treatment for the 2022 distributions for Braemar
Hotels and Resorts Inc. Series M Redeemable Preferred Stock (CUSIPs
#10482B796, 10482B861, 10482B770 and 10482B846) is as follows:
Distribution
Type
|
|
Distributions
Per Share
|
Ordinary
Taxable
Dividend
|
Section 199A
Dividend
|
Capital Gain
Distribution
|
Return of
Capital
|
Total Cash Per
Share
|
$1.8788000
|
$1.8788000
|
$1.8788000
|
$0.0000000
|
$0.0000000
|
Percent
|
100 %
|
100 %
|
100 %
|
0 %
|
0 %
|
Distributions Per Share reflects the annual rate per share for
distributions reportable in 2022.
The Company encourages stockholders to consult with their own
tax advisors with respect to the federal, state and local, and
foreign income tax effects of these dividends.
* * * * *
Braemar Hotels & Resorts is a real estate investment trust
(REIT) focused on investing in luxury hotels and resorts.
Forward-Looking Statements
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, among others, statements
about the Company's strategy and future plans. These
forward-looking statements are subject to risks and uncertainties.
When we use the words "will likely result," "may," "anticipate,"
"estimate," "should," "expect," "believe," "intend," or similar
expressions, we intend to identify forward-looking statements. Such
statements are subject to numerous assumptions and uncertainties,
many of which are outside Braemar's control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: the impact of COVID-19, and the rate of adoption and
efficacy of vaccines to prevent COVID-19, on our business and
investment strategy; our ability to repay, refinance or restructure
our debt and the debt of certain of our subsidiaries; anticipated
or expected purchases or sales of assets; our projected operating
results; completion of any pending transactions; risks associated
with our ability to effectuate our dividend policy, including
factors such as operating results and the economic outlook
influencing our board's decision whether to pay further dividends
at levels previously disclosed or to use available cash to pay
dividends; our understanding of our competition; market trends;
projected capital expenditures; the impact of technology on our
operations and business; general volatility of the capital markets
and the market price of our common stock and preferred stock;
availability, terms and deployment of capital; availability of
qualified personnel; changes in our industry and the markets in
which we operate, interest rates or the general economy; and the
degree and nature of our competition. These and other risk factors
are more fully discussed in Braemar's filings with the Securities
and Exchange Commission.
The forward-looking statements included in this press release
are only made as of the date of this press release. Such
forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all
information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or
factors, not all of which are known to us. If a change occurs, our
business, financial condition, liquidity, results of operations,
plans, and other objectives may vary materially from those
expressed in our forward-looking statements. You should carefully
consider this risk when you make an investment decision concerning
our securities. Investors should not place undue reliance on these
forward-looking statements. The Company can give no assurance that
these forward-looking statements will be attained or that any
deviation will not occur. We are not obligated to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or circumstances, changes in
expectations, or otherwise, except to the extent required by
law.
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SOURCE Braemar Hotels & Resorts Inc.