1. DiamondRock announced its 2024 distribution tax treatment for shareholders. 2. Common shares will provide $0.030, Series A preferred shares $0.515625 quarterly. 3. Shareholders advised to check with tax advisors regarding distribution treatment.
Stable distribution indicates sound financial health, but amounts are low. Past announcements had minimal price movement.
While dividend announcements are important, the small amounts suggest limited impact. Past dividends have shown typical market reactions.
Immediate tax treatment news may influence short-term trading behaviors. However, overall market conditions affect longer-term trends.
DiamondRock Hospitality Company (the "Company") (NYSE: DRH) announced the following tax treatment of the 2024 distributions to holders of the Company's common and Series A preferred stock.
| Ticker Symbol | Record Date | Payable Date | Total Distribution per Share | Ordinary Dividends (Box 1a) |
Section 199A Dividends (Box 5) |
|
|---|---|---|---|---|---|---|
| Common | DRH | 3/29/2024 | 4/12/2024 | $0.030000 | $0.030000 | $0.030000 |
| Common | DRH | 6/28/2024 | 7/12/2024 | $0.030000 | $0.030000 | $0.030000 |
| Common | DRH | 9/30/2024 | 10/11/2024 | $0.030000 | $0.030000 | $0.030000 |
| Common | DRH | 12/31/2024 | 1/14/2025 | $0.230000 | $0.230000 | $0.230000 |
| Series A Preferred | DRH Pr A | 3/18/2024 | 3/29/2024 | $0.515625 | $0.515625 | $0.515625 |
| Series A Preferred | DRH Pr A | 6/18/2024 | 6/28/2024 | $0.515625 | $0.515625 | $0.515625 |
| Series A Preferred | DRH Pr A | 9/20/2024 | 9/30/2024 | $0.515625 | $0.515625 | $0.515625 |
| Series A Preferred | DRH Pr A | 12/20/2024 | 12/31/2024 | $0.515625 | $0.515625 | $0.515625 |
Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company's distributions.
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 37 premium quality hotels and resorts with over 10,000 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at www.drhc.com.
SOURCE DiamondRock Hospitality Company